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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GLW. Barclays cut shares of Corning from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $53.00 to $38.00 in a report on Wednesday, May 11th. Morgan Stanley reiterated a "hold" rating and issued a $40.00 price target on shares of Corning in a report on Thursday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Corning from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, July 14th. Susquehanna Bancshares cut their price target on shares of Corning from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Wednesday, July 27th. Finally, UBS Group lowered their price objective on Corning to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.80.

Corning Price Performance

GLW opened at $36.80 on Thursday. The stock has a 50-day moving average price of $33.81 and a 200-day moving average price of $36.17. 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 firm has a market cap of $31.11 billion, a PE ratio of 15.79, a P/E/G ratio of 2.44 and a beta of 0.99. Corning has a 1 year low of $30.63 and a 1 year high of $43.47.

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

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.08 annualized dividend and a yield of 2.93%. Corning's payout ratio is 46.35%.

Insider Transactions at Corning

In other news, SVP John P. Bayne, Jr. sold 5,575 shares of the company's stock in a transaction that occurred 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 directly owns 7,345 shares of the company's stock, valued at approximately $269,561.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company's stock.