NYSE:GLW - Corning Stock Price, News, & Analysis

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$32.03 -0.02 (-0.06 %)
(As of 11/16/2018 04:00 PM ET)
Previous Close$32.05
Today's Range$31.67 - $32.37
52-Week Range$26.11 - $36.56
Volume6.18 million shs
Average Volume6.23 million shs
Market Capitalization$25.64 billion
P/E Ratio18.62
Dividend Yield2.28%
Beta1.28
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment manufactures glass substrates for liquid crystal displays (LCDs) used in LCD televisions, notebook computers, and flat panel desktop monitors. The Optical Communications segment manufactures optical fiber and cable; and hardware and equipment products comprising cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for various carrier network applications. This segment also offers subscriber demarcation, connection and protection devices, various digital subscriber line passive solutions, and outside plant enclosures; and coaxial RF interconnects for the cable television industry and microwave applications. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, and fluoride crystals. The Life Sciences segment manufactures and supplies scientific laboratory products consisting of consumables, such as plastic vessels, specialty surfaces, and media and serum, as well as general labware and equipment for cell culture research, bioprocessing, genomics, drug discovery, microbiology, and chemistry. 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.

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Industry, Sector and Symbol

Stock Exchange NYSE
Industry Nonferrous wiredrawing & insulating
Sub-IndustryElectronic Components
SectorComputer and Technology
Current SymbolNYSE:GLW
Previous Symbol
CUSIP21935010
Phone607-974-9000

Debt

Debt-to-Equity Ratio0.43
Current Ratio2.13
Quick Ratio1.51

Price-To-Earnings

Trailing P/E Ratio18.62
Forward P/E Ratio18.10
P/E Growth2.06

Sales & Book Value

Annual Sales$10.12 billion
Price / Sales2.53
Cash Flow$3.3539 per share
Price / Cash9.55
Book Value$14.59 per share
Price / Book2.20

Profitability

EPS (Most Recent Fiscal Year)$1.72
Net Income$-497,000,000.00
Net Margins-5.86%
Return on Equity13.22%
Return on Assets6.06%

Miscellaneous

Employees46,200
Outstanding Shares800,400,000
Market Cap$25.64 billion
OptionableOptionable

Corning (NYSE:GLW) Frequently Asked Questions

What is Corning's stock symbol?

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

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

Corning declared a quarterly dividend on Wednesday, October 3rd. Investors of record on Friday, November 16th will be paid a dividend of $0.18 per share on Friday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, November 15th. View Corning's Dividend History.

How were Corning's earnings last quarter?

Corning Incorporated (NYSE:GLW) issued its earnings results on Tuesday, October, 23rd. The electronics maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The electronics maker earned $3.01 billion during the quarter, compared to analyst estimates of $2.99 billion. Corning had a negative net margin of 5.86% and a positive return on equity of 13.22%. Corning's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. View Corning's Earnings History.

When is Corning's next earnings date?

Corning is scheduled to release their next quarterly earnings announcement on Tuesday, January 29th 2019. View Earnings Estimates for Corning.

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

Corning updated its FY 2018 earnings guidance on Tuesday, October, 23rd. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $11.3 billion, compared to the consensus revenue estimate of $11.28 billion.

What price target have analysts set for GLW?

9 Wall Street analysts have issued twelve-month price targets for Corning's stock. Their predictions range from $29.00 to $42.00. On average, they anticipate Corning's stock price to reach $36.1250 in the next year. This suggests a possible upside of 12.8% from the stock's current price. View Analyst Price Targets for Corning.

What is the consensus analysts' recommendation for Corning?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 4 hold ratings and 5 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Corning.

What are Wall Street analysts saying about Corning stock?

Here are some recent quotes from research analysts about Corning stock:
  • 1. According to Zacks Investment Research, "Corning delivered healthy third-quarter 2018 results driven by sales and profit growth in each of its businesses led by investment in innovation and capacity expansions. The company continues to benefit from strength in Optical Communications, Environmental Technologies and Specialty Materials segments. Solid demand for Gorilla Glass 5 and fiber optic products remain key catalyst as it continues to innovate in the glass substrate industry. Corning’s capability further positions it to better serve the secular increase in demand for LCD panels. In addition, sound balance sheet position has enabled the company to reward shareholders with risk-adjusted returns through healthy dividends and share buybacks. The stock has outperformed the industry in the past six months on an average. However, building a significant position in China under the prevailing economic and political environment is likely to be a challenge for the company." (11/16/2018)
  • 2. Guggenheim analysts commented, "We continue to see GLW as one of the only companies in our universe with Y/Y comps dramatically better in 2H18E than 1H18. We estimate revs +14%Y/Y and EPS +26%Y/Y in 2H18E vs. +7%Y/Y and -8%Y/Y in 1H18, which is a trend we see continuing in 1H19E as well. And we see Q3’s report in line with our expectation for that re-acceleration to be driven by specific new capacity ramps across 1) 10.5G Display glass for BOE, 2) Optical fiber and 3) Auto filters." (10/23/2018)

Has Corning been receiving favorable news coverage?

Media stories about GLW stock have trended somewhat positive recently, according to InfoTrie Sentiment. The research firm identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Corning earned a media sentiment score of 0.6 on InfoTrie's scale. They also assigned media coverage about the electronics maker a news buzz of 10.0 out of 10, meaning that recent press coverage is extremely likely to have an impact on the stock's share price in the near term.

Who are some of Corning's key competitors?

Who are Corning's key executives?

Corning's management team includes the folowing people:
  • Mr. Wendell P. Weeks, Chairman, CEO & Pres (Age 58)
  • Mr. R. Tony Tripeny, Sr. VP & CFO (Age 59)
  • Dr. David L. Morse, Exec. VP & CTO (Age 66)
  • Mr. Lawrence D. McRae, Vice Chairman & Corp. Devel. Officer (Age 59)
  • Mr. James P. Clappin, Exec. VP of Corning Glass Technologies (Age 61)

Who are Corning's major shareholders?

Corning's stock is owned by many different of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (6.55%), Primecap Management Co. CA (2.01%), Bank of New York Mellon Corp (1.65%), Lyrical Asset Management LP (1.53%), LSV Asset Management (1.49%) and Dimensional Fund Advisors LP (1.03%). Company insiders that own Corning stock include Christine M Pambianchi, Clark S Kinlin, David L Morse, Deborah Rieman, Edward A Schlesinger, Eric S Musser, Hansel E Tookes II, James P Clappin, John A Canning Jr, Lawrence D Mcrae, Lewis A Steverson, Lisa Ferrero, Mark S Rogus, Martin J Curran, R Tony Tripeny, Robert F Cummings Jr and Wendell P Weeks. View Institutional Ownership Trends for Corning.

Which major investors are selling Corning stock?

GLW stock was sold by a variety of institutional investors in the last quarter, including Levin Capital Strategies L.P., BlackRock Inc., Mitsubishi UFJ Trust & Banking Corp, Russell Investments Group Ltd., Neuberger Berman Group LLC, TCW Group Inc., LSV Asset Management and Janus Henderson Group PLC. Company insiders that have sold Corning company stock in the last year include Christine M Pambianchi, Clark S Kinlin, David L Morse, Deborah Rieman, Edward A Schlesinger, Eric S Musser, Lawrence D Mcrae, R Tony Tripeny and Wendell P Weeks. View Insider Buying and Selling for Corning.

Which major investors are buying Corning stock?

GLW stock was bought by a variety of institutional investors in the last quarter, including FMR LLC, TIAA CREF Investment Management LLC, Teachers Advisors LLC, Korea Investment CORP, Bank of New York Mellon Corp, Teachers Retirement System of The State of Kentucky, Todd Asset Management LLC and Lyrical Asset Management LP. View Insider Buying and Selling 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 Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Corning's stock price today?

One share of GLW stock can currently be purchased for approximately $32.03.

How big of a company is Corning?

Corning has a market capitalization of $25.64 billion and generates $10.12 billion in revenue each year. The electronics maker earns $-497,000,000.00 in net income (profit) each year or $1.72 on an earnings per share basis. Corning employs 46,200 workers across the globe.

What is Corning's official website?

The official website for Corning is http://www.corning.com.

How can I contact Corning?

Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The electronics maker can be reached via phone at 607-974-9000 or via email at investor.corning.com.


MarketBeat Community Rating for Corning (NYSE GLW)

Community Ranking:  2.5 out of 5 (star star half star)
Outperform Votes:  742 (Vote Outperform)
Underperform Votes:  716 (Vote Underperform)
Total Votes:  1,458
MarketBeat's community ratings are surveys of what our community members think about Corning and other stocks. Vote "Outperform" if you believe GLW will outperform the S&P 500 over the long term. Vote "Underperform" if you believe GLW will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 11/17/2018 by MarketBeat.com Staff

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