Corning - GLW Stock Forecast, Price & News

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Corning in the last twelve months. There are currently 6 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" GLW shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GLW, but not buy additional shares or sell existing shares.
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11 equities research analysts have issued twelve-month price targets for Corning's shares. Their GLW share price forecasts range from $35.00 to $50.00. On average, they predict the company's share price to reach $39.27 in the next year. This suggests a possible upside of 14.7% from the stock's current price.
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Corning's stock was trading at $37.23 at the beginning of 2022. Since then, GLW stock has decreased by 8.0% and is now trading at $34.24.
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Corning saw a decrease in short interest in the month of November. As of November 15th, there was short interest totaling 10,450,000 shares, a decrease of 16.5% from the October 31st total of 12,510,000 shares. Based on an average daily volume of 5,050,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.4% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, January 25th 2023.
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Corning Incorporated (NYSE:GLW) issued its earnings results on Tuesday, October, 25th. The electronics maker reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The electronics maker had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.67 billion. Corning had a net margin of 12.72% and a trailing twelve-month return on equity of 15.25%. The company's revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share.
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Corning declared a quarterly dividend on Wednesday, October 5th. Shareholders of record on Friday, November 18th will be given a dividend of $0.27 per share on Friday, December 16th. This represents a $1.08 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, November 17th.
Read our dividend analysis for GLW.

Corning (NYSE:GLW) pays an annual dividend of $1.08 per share and currently has a dividend yield of 3.16%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 50.47%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GLW will have a dividend payout ratio of 48.00% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

Corning updated its fourth quarter 2022 earnings guidance on Tuesday, November, 1st. The company provided earnings per share (EPS) guidance of $0.41-$0.47 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $3.45 billion-$3.65 billion, compared to the consensus revenue estimate of $3.75 billion.

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).

Corning trades on the New York Stock Exchange (NYSE) under the ticker symbol "GLW."

Corning's stock is owned by a variety of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (11.35%), BlackRock Inc. (6.61%), State Street Corp (3.77%), Dimensional Fund Advisors LP (1.10%), Bank of New York Mellon Corp (1.10%) and Primecap Management Co. CA (1.09%). Insiders that own company stock include Clark S Kinlin, David L Morse, David L Morse, Display Co Ltd Samsung, Edward A Schlesinger, Eric S Musser, John P Bayne Jr, John Z Zhang, Lawrence D Mcrae, Lawrence D Mcrae, Lewis A Steverson, Li Fang, Martin J Curran, Michael Alan Bell, R Tony Tripeny, Robert P France, Robert P France, Roger W Jr Ferguson, Stefan Becker, Thomas Peterffy, Wendell P Weeks and Wendell P Weeks.
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Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GLW stock can currently be purchased for approximately $34.24.

Corning (NYSE:GLW) has a market capitalization of $28.96 billion and generates $14.08 billion in revenue each year. The electronics maker earns $1.91 billion in net income (profit) each year or $2.14 on an earnings per share basis.

The company employs 61,200 workers across the globe.

Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The official website for the company is www.corning.com. The electronics maker can be reached via phone at (607) 974-9000, via email at irinfo@corning.com, or via fax at 607-974-2063.