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.

Corning Stock Performance

Shares of GLW traded down $1.21 during mid-day trading on Wednesday, hitting $36.17. The stock had a trading volume of 83,297 shares, compared to its average volume of 4,290,698. The company has a market cap of $30.58 billion, a PE ratio of 15.70, a PEG ratio of 2.57 and a beta of 0.99. The company's fifty day simple moving average is $33.91 and its two-hundred day simple moving average is $36.12. 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 issued its earnings results on Tuesday, July 26th. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The company 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%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $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 disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be given 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 2.99%. Corning's dividend payout ratio is currently 46.35%.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on Corning in a research report on Tuesday. They set a "neutral" rating and a $36.00 target price on the stock. Susquehanna Bancshares cut their price objective on Corning from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Wednesday, July 27th. StockNews.com downgraded Corning from a "buy" rating to a "hold" rating in a report on Monday, August 1st. UBS Group dropped their target price on Corning to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.18.

Insider Activity at Corning

In related news, SVP John P. Bayne, Jr. sold 5,575 shares of the business'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 completion of the transaction, the senior vice president now owns 7,345 shares in the company, valued at approximately $269,561.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company's stock.