Corning - GLW Stock Forecast, Price & News

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GLW shares. UBS Group lowered their target price on Corning to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. JPMorgan Chase & Co. lowered their price objective on Corning from $45.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Susquehanna Bancshares lowered their price objective on Corning from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Wednesday, July 27th. Morgan Stanley restated a "hold" rating and set a $40.00 price objective on shares of Corning in a research note on Thursday, April 14th. Finally, Citigroup lowered Corning from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $46.00 to $37.00 in a research note on Monday, May 23rd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and an average target price of $42.80.

Corning Stock Performance

Shares of GLW traded up $0.15 during mid-day trading on Monday, hitting $35.95. The stock had a trading volume of 139,029 shares, compared to its average volume of 5,075,329. The company has a market cap of $30.39 billion, a PE ratio of 15.36, a PEG ratio of 2.47 and a beta of 0.99. The company's fifty day simple moving average is $33.78 and its two-hundred day simple moving average is $36.17. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Corning has a fifty-two week low of $30.63 and a fifty-two week high of $43.47.

Corning (NYSE:GLW - Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.79 billion. Corning had a return on equity of 15.38% and a net margin of 13.73%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, equities analysts expect that Corning will post 2.23 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, August 30th. Corning's dividend payout ratio (DPR) is 46.35%.

Insider Buying and Selling

In other Corning news, SVP John P. Bayne, Jr. sold 5,575 shares of Corning stock in a transaction on Monday, August 1st. The stock was sold at an average price of $36.70, for a total transaction of $204,602.50. Following the sale, the senior vice president now owns 7,345 shares of the company's stock, valued at approximately $269,561.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.36% of the company's stock.