Corning - GLW Stock Forecast, Price & News

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 5 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GLW shares.
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11 Wall Street research analysts have issued 1-year price targets for Corning's shares. Their GLW share price forecasts range from $35.00 to $50.00. On average, they expect the company's stock price to reach $39.00 in the next twelve months. This suggests a possible upside of 9.1% from the stock's current price.
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Corning's stock was trading at $31.94 on January 1st, 2023. Since then, GLW stock has increased by 11.9% and is now trading at $35.74.
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Corning saw a increase in short interest during the month of January. As of January 15th, there was short interest totaling 10,190,000 shares, an increase of 6.8% from the December 31st total of 9,540,000 shares. Based on an average trading volume of 4,420,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.3% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023.
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Corning Incorporated (NYSE:GLW) announced its quarterly earnings data on Tuesday, January, 31st. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. The electronics maker earned $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. Corning had a net margin of 9.27% and a trailing twelve-month return on equity of 14.82%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS.
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Corning declared a quarterly dividend on Wednesday, October 5th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.27 per share on Friday, December 16th. This represents a $1.08 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, November 17th.
Read our dividend analysis for GLW.

Corning (NYSE:GLW) pays an annual dividend of $1.08 per share and currently has a dividend yield of 2.98%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 70.13%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GLW will have a dividend payout ratio of 44.08% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

Corning updated its first quarter 2023 earnings guidance on Tuesday, January, 31st. The company provided EPS guidance of $0.35-$0.42 for the period, compared to the consensus EPS estimate of $0.47. The company issued revenue guidance of $3.20 billion-$3.40 billion, compared to the consensus revenue estimate of $3.58 billion.

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

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).

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

Corning's stock is owned by many different retail and institutional investors. Top institutional investors include Sumitomo Mitsui Trust Holdings Inc. (0.27%), River Road Asset Management LLC (0.17%), MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH (0.15%), Yacktman Asset Management LP (0.14%), Assenagon Asset Management S.A. (0.13%) and RNC Capital Management LLC (0.12%). Insiders that own company stock include Clark S Kinlin, David L Morse, David L Morse, Display Co Ltd Samsung, Edward A Schlesinger, Eric S Musser, 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.
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Shares of GLW stock 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.
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One share of GLW stock can currently be purchased for approximately $35.74.

Corning (NYSE:GLW) has a market capitalization of $30.23 billion and generates $14.19 billion in revenue each year. The electronics maker earns $1.91 billion in net income (profit) each year or $1.54 on an earnings per share basis.

The company employs 61,200 workers across the globe.

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