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.
Industry, Sector and Symbol
Industry Nonferrous wiredrawing & insulating
SectorComputer and Technology
Trailing P/E Ratio16.02
Forward P/E Ratio16.40
Sales & Book Value
Annual Sales$10.12 billion
Price / Sales2.34
Cash Flow$3.3153 per share
Price / Cash8.31
Book Value$15.50 per share
Price / Book1.78
EPS (Most Recent Fiscal Year)$1.72
Return on Equity11.63%
Return on Assets6.29%
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 announced a quarterly dividend on Wednesday, February 7th. Investors of record on Wednesday, February 28th will be given a dividend of $0.18 per share on Thursday, March 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, February 27th. This is a boost from Corning's previous quarterly dividend of $0.16. View Corning's Dividend History.
How were Corning's earnings last quarter?
Corning Inc. (NYSE:GLW) issued its quarterly earnings results on Tuesday, January, 30th. The electronics maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The electronics maker had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.65 billion. Corning had a negative net margin of 4.91% and a positive return on equity of 11.63%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. View Corning's Earnings History.
When is Corning's next earnings date?
What price target have analysts set for GLW?
10 equities research analysts have issued 12 month price targets for Corning's shares. Their predictions range from $17.50 to $38.00. On average, they anticipate Corning's share price to reach $30.7778 in the next year. 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. Guggenheim analysts commented, "We reduce our FY18E EPS by -9c to $1.73, with -6c of that from a new higher tax rate, and the rest from higher COGS/Opex in 1H18E, but our forecast for GLW to then get back to >20%Y/Y EPS growth in 2H18E and FY19E." (1/30/2018)
- 2. According to Zacks Investment Research, "Corning is a worldwide provider of connectivity solutions. The company has been supplementing its portfolio with various acquisitions. Most recently, the company announced that it has agreed to take over 3M Company’s Communication Markets Division for $900 million. Corning is benefiting from robust performance in the company’s Optical Communications and Specialty Materials business lines. Moreover, strong demand for Gorilla Glass 5 (GG5) and its fiber optics products is a key catalyst. Moreover, the company remains focused on expanding its footprint in the automotive market driven by gas particulate filters (GPFs) and a Gorilla-sized automotive glass business. Further, aggressive share buyback in accordance with the strategy & capital allocation framework will also boost bottom line growth. On a year-to-date basis, the stock has outperformed the industry it belongs to. However, weakness in the Display segment remains a headwind." (12/22/2017)
- 3. Drexel Hamilton analysts commented, "We believe 4Q:16 was the peak in Corning’s EPS and operating profit cycle, while the sales cycle peaked in 1Q:17. Trading at a higher 2018 P/E than Apple and well above historical averages, we believe Corning is overvalued. Corning reported 2Q:17 core sales of $2.59 billion that beat our $2.563 billion estimate (consensus was $2.536 billion) on stronger than expected optical revenue, while core EPS of $0.42 met our $0.42 estimate (consensus was at $0.40). Given weaker than expected Display sales, gross margin of 42.4% missed our 43% estimate and fell from 43% a year ago." (7/26/2017)
Are investors shorting Corning?
Corning saw a drop in short interest during the month of March. As of March 29th, there was short interest totalling 16,015,817 shares, a drop of 19.0% from the March 15th total of 19,778,386 shares. Based on an average trading volume of 6,904,877 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.9% of the shares of the company are sold short.
Who are some of Corning's key competitors?
Some companies that are related to Corning include Nidec (NJDCY), Intuit (INTU), China Unicom (Hong Kong) (CHU), Canon (CAJ), NXP Semiconductors (NXPI), Koninklijke Philips (PHG), Infosys (INFY), NetEase (NTES), HP (HPQ), TE Connectivity (TEL), Dassault Syst�mes (DASTY), Analog Devices (ADI), Lam Research (LRCX), Nokia (NOK), Infineon Technologies (IFNNY), Tokyo Electron (TOELY), ServiceNow (NOW) and DXC Technology (DXC).
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)
Has Corning been receiving favorable news coverage?
Media headlines about GLW stock have been trending positive this week, Accern Sentiment reports. The research group ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Corning earned a media sentiment score of 0.31 on Accern's scale. They also assigned headlines about the electronics maker an impact score of 48.24 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the next few days.
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 $27.55.
How big of a company is Corning?
Corning has a market capitalization of $23.90 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.
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 [email protected]
MarketBeat Community Rating for Corning (GLW)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.
Corning (NYSE:GLW) Price Target and Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
10 Wall Street analysts have issued ratings and price targets for Corning in the last 12 months. Their average twelve-month price target is $30.7778, suggesting that the stock has a possible upside of 11.72%. The high price target for GLW is $38.00 and the low price target for GLW is $17.50. There are currently 2 sell ratings, 4 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of "Hold."
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Hold||Hold||Hold||Hold|
|Consensus Rating Score: ||2.20||2.18||2.13||2.13|
|Ratings Breakdown: ||2 Sell Rating(s)|
4 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
5 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
9 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
9 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$30.7778||$30.50||$29.75||$28.50|
|Price Target Upside: ||11.72% upside||1.90% upside||11.72% downside||6.40% downside|
Corning (NYSE:GLW) Consensus Price Target History
Corning (NYSE:GLW) Analyst Ratings History
(Data available from 4/20/2016 forward)
Corning (NYSE:GLW) Dividend Information
Corning pays an annual dividend of $0.72 per share, with a dividend yield of 2.61%. GLW's most recent quarterly dividend payment was Thursday, March 29. The company has grown its dividend for the last 7 consecutive years and is increasing its dividend by an average of 15.70% each year. Corning pays out 41.86% of its earnings out as a dividend.
|Most Recent Dividend:||3/29/2018|
|Dividend Growth:||15.70% (3 Year Average)|
|Payout Ratio:||41.86% (Trailing 12 Months of Earnings) |
42.86% (Based on This Year's Estimates)
38.10% (Based on Next Year's Estimates)
|Track Record:||7 Years of Consecutive Dividend Growth|
Corning (NYSE:GLW) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Corning (NYSE GLW) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 0.46%
Institutional Ownership Percentage: 72.87%
Corning (NYSE GLW) Insider Trading History
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Shares Held After Transaction||Details|
|3/12/2018||Christine M Pambianchi||VP||Sell||1,000||$29.90||$29,900.00|| |
|2/14/2018||John A Canning Jr||Director||Buy||30,000||$29.60||$888,000.00|| |
|12/21/2017||Lawrence D Mcrae||Vice Chairman||Sell||51,676||$32.42||$1,675,335.92||136,032|| |
|12/14/2017||Deborah Rieman||Director||Sell||2,083||$32.16||$66,989.28||102,896|| |
|11/7/2017||Mark S Rogus||Insider||Sell||9,242||$32.12||$296,853.04|| |
|10/31/2017||Wendell P Weeks||CEO||Sell||248,857||$31.37||$7,806,644.09||65,333|| |
|10/25/2017||Eric S Musser||VP||Sell||29,949||$31.56||$945,190.44||49,471|| |
|10/25/2017||Hansel E Tookes II||Director||Sell||6,513||$31.60||$205,810.80||88,946|| |
|8/30/2017||Lawrence D Mcrae||Vice Chairman||Sell||48,125||$28.61||$1,376,856.25||136,079|| |
|8/29/2017||Christine M Pambianchi||VP||Sell||33,000||$28.56||$942,480.00||73,145|| |
|8/24/2017||Clark S Kinlin||Insider||Sell||46,763||$28.53||$1,334,148.39||72,039|| |
|6/14/2017||James P Clappin||Insider||Sell||106,983||$29.25||$3,129,252.75||91,552|| |
|6/5/2017||Wendell P Weeks||CEO||Sell||153,500||$29.58||$4,540,530.00||76,750|| |
|6/1/2017||Clark S Kinlin||Insider||Sell||40,717||$29.62||$1,206,037.54||72,707|| |
|5/22/2017||Lisa Ferrero||Insider||Sell||56,500||$29.09||$1,643,585.00||16,808|| |
|5/19/2017||Lewis A Steverson||Insider||Sell||30,000||$29.00||$870,000.00||3,859|| |
|5/9/2017||Edward A Schlesinger||VP||Sell||5,422||$29.15||$158,051.30||33,083|| |
|5/2/2017||Eric S Musser||VP||Sell||23,236||$29.12||$676,632.32||63,040|| |
|4/26/2017||Wendell P Weeks||CEO||Sell||41,075||$28.46||$1,168,994.50|| |
|3/13/2017||Deborah Rieman||Director||Sell||34,050||$27.63||$940,801.50||100,813|| |
|3/2/2017||Mark S Rogus||VP||Sell||18,000||$28.14||$506,520.00||98,245|| |
|3/2/2017||Wendell P Weeks||CEO||Sell||153,500||$28.01||$4,299,535.00||153,500|| |
|3/1/2017||Edward A Schlesinger||VP||Sell||5,747||$28.18||$161,950.46||30,759|| |
|2/17/2017||James P Clappin||Insider||Sell||64,500||$27.57||$1,778,265.00||65,610|| |
|2/16/2017||Christine M Pambianchi||VP||Sell||1,000||$27.68||$27,680.00|| |
|2/16/2017||Lawrence D Mcrae||Vice Chairman||Sell||50,000||$27.58||$1,379,000.00||133,465|| |
|1/31/2017||Eric S Musser||VP||Sell||36,000||$26.50||$954,000.00||47,076|| |
|1/31/2017||Wendell P Weeks||CEO||Sell||130,667||$26.40||$3,449,608.80||65,333|| |
|1/27/2017||Martin J Curran||VP||Sell||36,000||$26.73||$962,280.00||34,052|| |
|1/25/2017||David L Morse||Insider||Sell||128,103||$26.70||$3,420,350.10||64,129|| |
|1/25/2017||Eric S Musser||VP||Sell||37,242||$26.63||$991,754.46||41,687|| |
|12/13/2016||Robert F Cummings Jr||Director||Sell||1,985||$24.45||$48,533.25||146,671|| |
|12/2/2016||Deborah Rieman||Director||Sell||1,985||$23.60||$46,846.00||136,848|| |
|11/29/2016||Hansel E Tookes II||Director||Sell||1,985||$24.34||$48,314.90||88,848|| |
|11/29/2016||Lisa Ferrero||Insider||Sell||42,306||$24.30||$1,028,035.80||25,145|| |
|11/22/2016||James P Clappin||Insider||Sell||94,303||$24.01||$2,264,215.03||81,255|| |
|11/22/2016||Lawrence D Mcrae||Vice Chairman||Sell||32,300||$24.04||$776,492.00||145,202|| |
|11/17/2016||R Tony Tripeny||Insider||Sell||16,333||$23.80||$388,725.40||57,054|| |
|11/14/2016||Edward A Schlesinger||VP||Sell||6,252||$23.57||$147,359.64||31,264|| |
|11/10/2016||David L Morse||Insider||Sell||17,483||$23.50||$410,850.50||61,112|| |
|11/10/2016||Eric S Musser||VP||Sell||26,792||$23.50||$629,612.00||55,868|| |
|10/27/2016||Clark S Kinlin||Insider||Sell||66,667||$22.92||$1,528,007.64||70,068|| |
|10/26/2016||Wendell P Weeks||CEO||Sell||204,750||$23.07||$4,723,582.50||136,500|| |
|10/24/2016||James P Clappin||Insider||Sell||30,000||$24.00||$720,000.00||96,589|| |
|9/28/2016||David L Morse||Insider||Sell||18,000||$23.50||$423,000.00||61,629|| |
|9/7/2016||Martin J Curran||VP||Sell||54,416||$22.87||$1,244,493.92||32,115|| |
|8/15/2016||James P Clappin||Insider||Sell||15,000||$23.00||$345,000.00||81,589|| |
|8/11/2016||David L Morse||Insider||Sell||9,000||$23.00||$207,000.00||52,629|| |
|8/10/2016||Lisa Ferrero||Insider||Sell||48,000||$22.86||$1,097,280.00||24,963|| |
|8/8/2016||Martin J Curran||VP||Sell||18,000||$22.89||$412,020.00||34,052|| |
|8/2/2016||Wendell P Weeks||CEO||Sell||68,250||$22.21||$1,515,832.50||68,250|| |
|8/1/2016||Eric S Musser||VP||Sell||56,853||$22.37||$1,271,801.61||25,693|| |
|7/29/2016||R Tony Tripeny||Insider||Sell||7,500||$22.27||$167,025.00||48,221|| |
|7/28/2016||James P Clappin||Insider||Sell||15,000||$22.00||$330,000.00||81,589|| |
|7/28/2016||Lawrence D Mcrae||Vice Chairman||Sell||57,333||$22.26||$1,276,232.58||133,902|| |
|7/28/2016||Martin J Curran||VP||Sell||9,000||$21.86||$196,740.00||25,052|| |
|6/8/2016||Kirk P Gregg||CAO||Sell||24,000||$20.93||$502,320.00||178,629|| |
|6/7/2016||Mark S Rogus||VP||Sell||10,896||$21.18||$230,777.28||101,251|| |
|6/7/2016||R Tony Tripeny||CFO||Sell||7,500||$21.17||$158,775.00||48,221|| |
|5/26/2016||Kirk P Gregg||CAO||Sell||20,000||$20.08||$401,600.00||154,629|| |
|2/19/2016||Kirk P Gregg||CAO||Sell||20,000||$18.51||$370,200.00||174,629|| |
|2/17/2016||Jeffrey W. Evenson||VP||Sell||53,008||$19.03||$1,008,742.24||1,312|| |
|2/10/2016||Lawrence D. Mcrae||Vice Chairman||Sell||34,000||$18.54||$630,360.00||94,754|| |
|2/4/2016||James B Flaws||Vice Chairman||Sell||69,519||$18.50||$1,286,101.50||275,074|| |
|12/15/2015||Lewis A Steverson||SVP||Sell||28,437||$17.99||$511,581.63||51,903|| |
|9/1/2015||Martin J Curran||VP||Buy||35,820||$16.67||$597,119.40|| |
|2/27/2015||Clark S Kinlin||EVP||Sell||12,932||$24.54||$317,351.28|| |
|2/23/2015||Eric S Musser||VP||Sell||11,578||$24.94||$288,755.32|| |
|2/18/2015||James B Flaws||CFO||Sell||145,043||$24.58||$3,565,156.94|| |
|2/18/2015||Kirk P Gregg||VP||Sell||50,869||$24.62||$1,252,394.78|| |
|2/18/2015||Wendell P Weeks||CEO||Sell||64,992||$24.49||$1,591,654.08|| |
|2/10/2015||Eric S Musser||VP||Sell||18,000||$24.50||$441,000.00|| |
|2/6/2015||Clark S Kinlin||EVP||Sell||21,500||$24.35||$523,525.00|| |
|1/30/2015||Kirk P Gregg||VP||Sell||131,703||$23.89||$3,146,384.67|| |
|1/30/2015||Wendell P Weeks||CEO||Sell||242,250||$23.91||$5,792,197.50|| |
|1/28/2015||David L Morse||EVP||Sell||61,168||$25.02||$1,530,423.36|| |
|1/28/2015||Eric S Musser||VP||Sell||38,000||$24.75||$940,500.00|| |
|1/28/2015||James B Flaws||CFO||Sell||339,500||$24.63||$8,361,885.00|| |
|1/28/2015||Kurt M Landgraf||Director||Sell||6,775||$24.89||$168,629.75|| |
|11/24/2014||Clark S Kinlin||EVP||Sell||59,916||$20.84||$1,248,649.44|| |
|9/10/2014||Hansel E Tookes II||Director||Sell||8,611||$21.09||$181,605.99|| |
|8/27/2014||Clark S Kinlin||EVP||Sell||19,137||$20.57||$393,648.09|| |
|8/21/2014||Wendell P Weeks||CEO||Sell||130,000||$20.73||$2,694,900.00|| |
|8/5/2014||Kirk P Gregg||VP||Sell||41,000||$19.89||$815,490.00|| |
|8/4/2014||Lewis A Steverson||SVP||Sell||30,102||$20.00||$602,040.00|| |
|5/30/2014||David L Morse||EVP||Sell||11,027||$21.27||$234,544.29|| |
|5/14/2014||Clark Kinlin||EVP||Sell||32,500||$21.23||$689,975.00||68,568|| |
|5/2/2014||Kirk Gregg||VP||Sell||93,000||$21.03||$1,955,790.00||181,429|| |
|5/1/2014||Wendell Weeks||CEO||Sell||150,000||$21.07||$3,160,500.00|| |
|2/19/2014||Kirk Gregg||VP||Sell||12,618||$19.05||$240,372.90||196,112|| |
|2/18/2014||David Morse||EVP||Sell||9,265||$19.16||$177,517.40||26,385|| |
|2/18/2014||James Flaws||CFO||Sell||20,499||$19.16||$392,760.84||320,774|| |
|2/18/2014||Wendell Weeks||CEO||Sell||44,164||$19.16||$846,182.24|| |
|2/12/2014||James Flaws||CFO||Sell||190,335||$18.59||$3,538,327.65||347,140|| |
|11/22/2013||Wendell Weeks||CEO||Sell||250,000||$17.05||$4,262,500.00|| |
|11/21/2013||R Tony Tripeny||VP||Sell||22,750||$17.13||$389,707.50||47,414|| |
|11/20/2013||David Morse||EVP||Sell||2,255||$16.87||$38,041.85||26,385|| |
|11/15/2013||Deborah Rieman||Director||Sell||5,132||$16.90||$86,730.80||112,764|| |
|11/4/2013||John Seely Brown||Director||Sell||5,132||$17.29||$88,732.28|| |
|2/13/2013||Robert F Cummings Jr||Director||Buy||30,000||$12.61||$378,300.00|| |
|11/16/2012||Gordon Gund||Director||Buy||170,000||$10.76||$1,829,200.00|| |
Corning (NYSE GLW) News Headlines
Corning (NYSE:GLW) SEC Filings
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Corning (NYSE:GLW) Income Statement, Balance Sheet and Cash Flow Statement
Corning (NYSE GLW) Stock Chart for Friday, April, 20, 2018