Corning (GLW) to Release Earnings on Monday
Corning (NYSE:GLW) will issue its quarterly earnings data before the market opens on Monday, January 22nd. Analysts expect Corning to post earnings of $0.48 per share for the quarter.
Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Corning had a net margin of 24.98% and a return on equity of 11.53%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Corning (NYSE GLW) opened at $34.66 on Friday. The firm has a market cap of $30,120.00, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.84 and a beta of 1.33. Corning has a twelve month low of $24.54 and a twelve month high of $35.10. The company has a current ratio of 2.69, a quick ratio of 2.14 and a debt-to-equity ratio of 0.26.
In related news, CEO Wendell P. Weeks sold 248,857 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $31.37, for a total value of $7,806,644.09. Following the sale, the chief executive officer now owns 65,333 shares of the company’s stock, valued at approximately $2,049,496.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the completion of the sale, the insider now directly owns 136,032 shares in the company, valued at approximately $4,410,157.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,320 shares of company stock worth $10,996,824. Corporate insiders own 0.59% of the company’s stock.
Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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