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 Trading Up 1.2 %

GLW traded up $0.43 during trading on Tuesday, hitting $37.61. The company's stock had a trading volume of 83,950 shares, compared to its average volume of 4,393,465. Corning has a twelve month low of $30.63 and a twelve month high of $43.47. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $33.88 and its 200-day moving average price is $36.11. The firm has a market capitalization of $31.79 billion, a P/E ratio of 15.96, a PEG ratio of 2.59 and a beta of 0.99.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Tuesday, August 30th. Corning's payout ratio is 46.35%.

Analysts Set New Price Targets

GLW has been the topic of several research reports. StockNews.com cut Corning from a "buy" rating to a "hold" rating in a report on Monday, August 1st. UBS Group reduced their target price on Corning to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. JPMorgan Chase & Co. reduced their target price on Corning from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, July 14th. Susquehanna Bancshares reduced their target price on Corning from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Wednesday, July 27th. Finally, Barclays cut Corning from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $53.00 to $38.00 in a report on Wednesday, May 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average price target of $42.80.

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 transaction, the senior vice president now directly owns 7,345 shares of the company's stock, valued at $269,561.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by insiders.