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S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
Buffett's firm reports $44B loss but its businesses thrive
Musk says Twitter deal could move ahead with 'bot' info
Senate parliamentarian OKs most of Dems' drug price controls
Dems' climate, energy, tax bill clears initial Senate hurdle
Senate rules referee weakens Dem drug plan in economic bill
Demand for grocery delivery cools as food costs rise
Venezuela, Colombia border areas hopeful as reopening looms
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
Buffett's firm reports $44B loss but its businesses thrive
Musk says Twitter deal could move ahead with 'bot' info
Senate parliamentarian OKs most of Dems' drug price controls
Dems' climate, energy, tax bill clears initial Senate hurdle
Senate rules referee weakens Dem drug plan in economic bill
Demand for grocery delivery cools as food costs rise
Venezuela, Colombia border areas hopeful as reopening looms
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
Buffett's firm reports $44B loss but its businesses thrive
Musk says Twitter deal could move ahead with 'bot' info
Senate parliamentarian OKs most of Dems' drug price controls
Dems' climate, energy, tax bill clears initial Senate hurdle
Senate rules referee weakens Dem drug plan in economic bill
Demand for grocery delivery cools as food costs rise
Venezuela, Colombia border areas hopeful as reopening looms

Corning (GLW) Stock Forecast, Price & News

$35.80
-0.69 (-1.89%)
(As of 08/5/2022 12:00 AM ET)
Add
Compare
Today's Range
$35.69
$36.28
50-Day Range
$31.37
$36.76
52-Week Range
$30.63
$43.47
Volume
4.65 million shs
Average Volume
4.39 million shs
Market Capitalization
$30.26 billion
P/E Ratio
15.36
Dividend Yield
3.02%
Price Target
$42.80

Corning MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.60 Rating Score
Upside/​Downside
19.6% Upside
$42.80 Price Target
Short Interest
Healthy
2.68% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
-0.04mentions of Corning in the last 14 days
Based on 24 Articles This Week
Insider Trading
Selling Shares
$204,603 Sold Last Quarter
Proj. Earnings Growth
11.21%
From $2.23 to $2.48 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.91 out of 5 stars

Computer And Technology Sector

66th out of 832 stocks

Nonferrous Wiredrawing & Insulating Industry

1st out of 3 stocks

Corning logo

About Corning (NYSE:GLW) Stock

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.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Corning from a "buy" rating to a "hold" rating in a research note on Monday, August 1st. Barclays lowered shares of Corning from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $53.00 to $38.00 in a research note on Wednesday, May 11th. JPMorgan Chase & Co. cut their target price on shares of Corning from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. UBS Group cut their target price on shares of Corning to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th. Finally, Susquehanna Bancshares cut their target price on shares of Corning from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Wednesday, July 27th. 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 a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Corning Stock Down 1.9 %

GLW opened at $35.80 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 0.91. The company's 50-day moving average is $33.78 and its 200 day moving average is $36.16. Corning has a fifty-two week low of $30.63 and a fifty-two week high of $43.47. The firm has a market capitalization of $30.26 billion, a P/E ratio of 15.36, a PEG ratio of 2.52 and a beta of 0.99.

Corning (NYSE:GLW - Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The electronics maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. Corning had a net margin of 13.73% and a return on equity of 15.38%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the firm earned $0.53 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. Research analysts expect that Corning will post 2.23 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 3.02%. Corning's dividend payout ratio (DPR) is presently 46.35%.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 5,575 shares of the firm's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $36.70, for a total transaction of $204,602.50. Following the completion of the sale, the senior vice president now owns 7,345 shares in the company, valued at $269,561.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is currently owned by corporate insiders.

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GLW Stock News Headlines

Corning (NYSE:GLW) Rating Lowered to Hold at StockNews.com
Corning (NYSE:GLW) PT Lowered to $40.00 at UBS Group
Susquehanna Cuts Corning (NYSE:GLW) Price Target to $46.00
Corning (GLW) Q2 2022 Earnings Call Transcript
Corning: Q2 Earnings Snapshot - Greenwich Time
See More Headlines

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GLW Company Calendar

Ex-Dividend for 6/29 Dividend
5/27/2022
Dividend Payable
6/29/2022
Last Earnings
7/26/2022
Today
8/07/2022
Ex-Dividend for 9/29 Dividend
8/30/2022
Dividend Payable
9/29/2022
Next Earnings (Estimated)
10/25/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Nonferrous wiredrawing & insulating
Sub-Industry
Electronic Components
CUSIP
21935010
Employees
61,200
Year Founded
1851

Price Target and Rating

Average Stock Price Forecast
$42.80
High Stock Price Forecast
$50.00
Low Stock Price Forecast
$37.00
Forecasted Upside/Downside
+19.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.60
Research Coverage
10 Analysts

Profitability

Net Income
$1.91 billion
Pretax Margin
17.57%

Debt

Sales & Book Value

Annual Sales
$14.08 billion
Cash Flow
$3.86 per share
Book Value
$14.18 per share

Miscellaneous

Free Float
842,275,000
Market Cap
$30.26 billion
Optionable
Optionable
Beta
0.99

Social Links















GLW Stock - Frequently Asked Questions

Should I buy or sell Corning stock right now?

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 4 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Corning stock.
View analyst ratings for Corning
or view top-rated stocks.

What is Corning's stock price forecast for 2022?

10 brokers have issued twelve-month price objectives for Corning's shares. Their GLW stock forecasts range from $37.00 to $50.00. On average, they anticipate Corning's stock price to reach $42.80 in the next twelve months. This suggests a possible upside of 19.6% from the stock's current price.
View analysts' price targets for Corning
or view top-rated stocks among Wall Street analysts.

How has Corning's stock price performed in 2022?

Corning's stock was trading at $37.23 at the start of the year. Since then, GLW shares have decreased by 3.8% and is now trading at $35.80.
View the best growth stocks for 2022 here
.

When is Corning's next earnings date?

Corning is scheduled to release its next quarterly earnings announcement on Tuesday, October 25th 2022.
View our earnings forecast for Corning
.

How were Corning's earnings last quarter?

Corning Incorporated (NYSE:GLW) posted its earnings results on Tuesday, July, 26th. The electronics maker reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The electronics maker had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. Corning had a trailing twelve-month return on equity of 15.38% and a net margin of 13.73%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS.
Read Corning's conference call transcript
.

How often does Corning pay dividends? What is the dividend yield for Corning?

Corning declared a quarterly dividend on Thursday, June 30th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.27 per share on Thursday, September 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, August 30th.
View Corning's dividend history
.

Is Corning a good dividend stock?

Corning(NYSE:GLW) pays an annual dividend of $1.08 per share and currently has a dividend yield of 3.02%. Corning has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio of Corning is 46.35%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Corning will have a dividend payout ratio of 43.55% next year. This indicates that Corning will be able to sustain or increase its dividend.
View Corning's dividend history.

What guidance has Corning issued on next quarter's earnings?

Corning issued an update on its FY 2022 earnings guidance on Thursday, August, 4th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $15.00B-, compared to the consensus revenue estimate of $15.35 billion.

What is Wendell P. Weeks' approval rating as Corning's CEO?

413 employees have rated Corning CEO Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among Corning's employees.

What other stocks do shareholders of Corning own?

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).

What is Corning's stock symbol?

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

Who are Corning's major shareholders?

Corning's stock is owned by a number of retail and institutional investors. Top institutional investors include Truist Financial Corp (0.45%), Envestnet Asset Management Inc. (0.39%), Sumitomo Mitsui Trust Holdings Inc. (0.30%), Staley Capital Advisers Inc. (0.14%), MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH (0.13%) and RNC Capital Management LLC (0.13%). Company insiders that own Corning stock include Christine M Pambianchi, Clark S Kinlin, David L Morse, David L Morse, Deborah Rieman, Display Co Ltd Samsung, Edward A Schlesinger, Eric S Musser, Hansel E Tookes II, 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.
View institutional ownership trends for Corning
.

How do I buy shares of Corning?

Shares of GLW 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.
Compare Top Brokerages Here.

What is Corning's stock price today?

One share of GLW stock can currently be purchased for approximately $35.80.

How much money does Corning make?

Corning (NYSE:GLW) has a market capitalization of $30.26 billion and generates $14.08 billion in revenue each year. The electronics maker earns $1.91 billion in net income (profit) each year or $2.33 on an earnings per share basis.

How many employees does Corning have?

Corning employs 61,200 workers across the globe.

Does Corning have any subsidiaries?

The following companies are subsidiares of Corning: 3M Communication, Alliance Fiber Optic Products Inc., Axygen BioScience Inc., Axygen Holdings Corporation, Axygen Inc., CCS Holdings Inc., Chengdu Honing Display Glass Co. Ltd., Corning (Hainan) Optical Communications Co. Ltd., Corning (Shanghai) Co. Ltd., Corning B.V., Corning China (Shanghai) Regional Headquarter, Corning Display Technologies (China) Co. Ltd., Corning Display Technologies (Chongqing) Co. Ltd., Corning Display Technologies (Guangzhou) Co. Ltd., Corning Display Technologies (Hefei) Co. Ltd., Corning Display Technologies (Wuhan) Co. Ltd., Corning Display Technologies Taiwan Co. Ltd., Corning Environmental Technologies (Hefei) Co. Ltd., Corning Finance B.V., Corning Finance Luxembourg S.à.r.l., Corning GmbH, Corning Holding GmbH, Corning Hungary Data Services Limited Liability Company, Corning International Corporation, Corning International Luxembourg S.à.r.l., Corning International Netherlands B.V., Corning Japan K.K., Corning Luxembourg S.à.r.l., Corning NetOptix Inc., Corning Oak Holding LLC, Corning Optical Communications GmbH & Co. KG, Corning Optical Communications Holding Co. Inc., Corning Optical Communications LLC, Corning Optical Communications Polska Sp.zo.o., Corning Optical Communications Pty. Ltd, Corning Optical Communications RF LLC, Corning Optical Communications Vermoegensverwaltungsgesellschaft mbH, Corning Optical Fiber Cable (Chengdu) Co. Ltd., Corning Pharmaceutical Glass LLC, Corning Precision Materials Co. Ltd., Corning Property Management Corporation, Corning Research & Development Corporation, Corning SAS, Corning SK Luxembourg S.a r.l., Corning Singapore Holdings Private Limited, Corning Specialty Materials Inc., Corning Technologies (H.K.) Limited, Corning Technologies India Private Limited, Corning Technologies SARL, Corning Telecommunications Luxembourg S.à.r.l., Corning Tropel Corporation, Corning Ventures France SAS, Corning Ventures S.à.r.l., DC HSC Holdings LLC, Discovery Labware Inc., Eurokera (Thailand) Limited, Eurokera Guangzhou Co. Ltd., Eurokera North America Inc., Eurokera S.N.C., Gerresheimer AG, Hemlock Semiconductor L.L.C., Keraglass S.N.C., Mediatech Inc., MobileAccess Networks, Phoenix Venture Partners II LP, Photonics Technology Research Center, STRAN Technologies, Saint-Gobain Corning Automotive Glazing S.N.C., Samsung Corning Advanced Glass LLC, SpiderCloud Wireless, TR Manufacturing LLC, US Conec Ltd., Xianyang Honing Display Glass Co. Ltd., and iBwave Solutions Inc..
Read More

When was Corning founded?

Corning was founded in 1851.

How can I contact Corning?

Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The official website for Corning 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.

This page (NYSE:GLW) was last updated on 8/7/2022 by MarketBeat.com Staff

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