Corning (NYSE:GLW)‘s stock had its “hold” rating reissued by equities research analysts at Oppenheimer in a research report issued to clients and investors on Wednesday, January 31st. Oppenheimer also issued estimates for Corning’s Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.46 EPS and FY2018 earnings at $1.62 EPS.

Several other research firms have also recently weighed in on GLW. Guggenheim reissued a “buy” rating and set a $35.00 price objective on shares of Corning in a report on Tuesday, October 24th. Zacks Investment Research cut shares of Corning from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Citigroup boosted their price objective on shares of Corning from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Deutsche Bank boosted their price objective on shares of Corning from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Jefferies Group reissued a “hold” rating and set a $29.50 price objective on shares of Corning in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Corning has a consensus rating of “Hold” and an average target price of $31.47.

Shares of Corning (NYSE:GLW) traded up $0.02 during midday trading on Wednesday, hitting $29.54. 7,230,625 shares of the stock traded hands, compared to its average volume of 7,860,000. The company has a market capitalization of $25,670.00, a P/E ratio of -37.39, a PEG ratio of 4.37 and a beta of 1.34. Corning has a 52-week low of $26.32 and a 52-week high of $35.10. The company has a current ratio of 2.75, a quick ratio of 2.22 and a debt-to-equity ratio of 0.35.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.65 billion. Corning had a negative net margin of 4.91% and a positive return on equity of 11.62%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. equities research analysts forecast that Corning will post 1.67 earnings per share for the current year.

In other Corning news, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $32.42, for a total value of $1,675,335.92. Following the completion of the transaction, the insider now directly owns 136,032 shares in the company, valued at $4,410,157.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Deborah Rieman sold 2,083 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $32.16, for a total transaction of $66,989.28. Following the completion of the transaction, the director now owns 102,896 shares of the company’s stock, valued at $3,309,135.36. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Thrivent Financial For Lutherans boosted its position in shares of Corning by 1.2% during the second quarter. Thrivent Financial For Lutherans now owns 34,870 shares of the electronics maker’s stock worth $1,048,000 after acquiring an additional 400 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of Corning by 13.4% during the second quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock worth $165,000 after acquiring an additional 485 shares during the last quarter. United Bank VA boosted its position in shares of Corning by 0.8% during the second quarter. United Bank VA now owns 70,570 shares of the electronics maker’s stock worth $2,121,000 after acquiring an additional 583 shares during the last quarter. Sentry Investment Management LLC boosted its position in shares of Corning by 1.1% during the second quarter. Sentry Investment Management LLC now owns 72,401 shares of the electronics maker’s stock worth $2,176,000 after acquiring an additional 767 shares during the last quarter. Finally, Colony Group LLC boosted its position in shares of Corning by 0.5% during the second quarter. Colony Group LLC now owns 142,560 shares of the electronics maker’s stock worth $4,284,000 after acquiring an additional 771 shares during the last quarter. Institutional investors and hedge funds own 71.82% of the company’s stock.

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Corning Company Profile

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).

Analyst Recommendations for Corning (NYSE:GLW)

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