Corning Incorporated Company Profile (NYSE:GLW)

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

Corning Incorporated announced a quarterly dividend on Wednesday, July 19th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.155 per share on Friday, September 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, August 29th. View Corning Incorporated's Dividend History.

Corning Incorporated (NYSE:GLW) issued its earnings results on Wednesday, July, 26th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The firm earned $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. Corning Incorporated had a return on equity of 11.67% and a net margin of 24.16%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. View Corning Incorporated's Earnings History.

Corning Incorporated is scheduled to release their next quarterly earnings announcement on Tuesday, October, 24th 2017. View Earnings Estimates for Corning Incorporated.

14 brokers have issued 12-month price targets for Corning Incorporated's shares. Their predictions range from $17.50 to $35.00. On average, they anticipate Corning Incorporated's share price to reach $28.73 in the next year. View Analyst Ratings for Corning Incorporated.

Here are some recent quotes from research analysts about Corning Incorporated stock:

• 1. Guggenheim analysts commented, "We met with GLW management yesterday at its HQ in Corning, NY (including CEO, CFO, CSO, CTO) and came away positive on its long-term R&D and TAM expansion prospects, as we expected, but also positive on GLW’s near-term ability to maintain momentum even in the face of some choppier end markets. Display glass seems able to withstand LCD panel cyclicality thanks to increasing screen sizes and, even more importantly, ongoing moderation in ASP declines. Optical Comms growth remains strong, driven by US FTTH, with GLW “sold out,” and Gorilla Glass should keep re-accelerating as new iPhones now double their content to front AND back. We think GLW showed the strengths of investing in applied R&D, with sizeable long- term TAM expansion opportunities headlined by Automotive Gorilla Glass and its new pharmaceutical Valor Glass, where we received an impassioned deep-dive from CEO, Wendell Weeks." (9/21/2017)
• 2. 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)
• 3. According to Zacks Investment Research, "Corning's first-quarter 2017 results were primairly driven by robust performance in the company’s Optical Communications and Specialty Materials business lines. We note that the recently announced deal with Verizon reflects the company's growing clout in the North American fiber-to-home network market. 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. The company has outperformed the Zacks Communications Components industry on a year-to-date basis. However, weakness in the Display segment remains a headwind, which can drag down returns in the rest of 2017." (4/27/2017)
• 4. Susquehanna Bancshares Inc analysts commented, "We are increasing our estimates post GLW earnings report and guide, and remain above consensus. The key catalyst for the stock is the company's execution on commercializing the use of Gorilla for auto, both exterior and interior application. We are increasing our price target multiple given this milestone." (1/25/2017)
• 5. Jefferies Group LLC analysts commented, "Corning posted better-than-expected Q4 results. At current valuations, we continue to believe that the risk/reward in the shares is balanced. Optionality associated with auto glass, pharma glass, and GPFs should take longer to materialize in the company's financials." (1/25/2017)

Corning Incorporated saw a increase in short interest in August. As of August 15th, there was short interest totalling 29,536,304 shares, an increase of 34.8% from the July 31st total of 21,903,596 shares. Based on an average daily trading volume, of 6,850,281 shares, the short-interest ratio is currently 4.3 days. Approximately 3.3% of the company's stock are short sold.

Some companies that are related to Corning Incorporated include T-Mobile US (TMUS), Applied Materials (AMAT), Vmware (VMW), Cognizant Technology Solutions Corporation (CTSH), Micron Technology (MU), Koninklijke Philips N.V. (PHG), NetEase (NTES), Intuit (INTU), Canon (CAJ), Nokia Corporation (NOK), China Unicom (Hong Kong) Ltd (CHU), Infosys Limited (INFY), Sprint Corporation (S), HP (HPQ), Analog Devices (ADI), TE Connectivity (TEL), Lam Research Corporation (LRCX) and Infineon Technologies AG (IFNNY).

Corning Incorporated's management team includes the folowing people:

• Wendell P. Weeks, Chairman of the Board, President, Chief Executive Officer
• Lawrence D. McRae, Vice Chairman, Corporate Development Officer
• R. Tony Tripeny, Chief Financial Officer, Senior Vice President
• James P. Clappin, President - Corning Glass Technologies
• Eric S. Musser, Executive Vice President of Corning Technologies and International
• David L. Morse, Executive Vice President, Chief Technology Officer
• Martin J. Curran, Executive Vice President, Corning Innovation Officer
• Clark S. Kinlin, Executive Vice President
• Lisa Ferrero, Senior Vice President, Chief Administrative Officer
• Lewis A. Steverson, Senior Vice President, General Counsel

Corning Incorporated's stock is owned by a variety of of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (6.88%), BlackRock Inc. (6.07%), State Street Corp (4.53%), Hotchkis & Wiley Capital Management LLC (2.35%), State Farm Mutual Automobile Insurance Co. (2.00%) and Bank of New York Mellon Corp (1.98%). Company insiders that own Corning Incorporated stock include Christine M Pambianchi, Clark S Kinlin, David L Morse, Deborah Rieman, Edward A Schlesinger, Eric S Musser, Hansel E Tookes II, James B Flaws, James P Clappin, Jeffrey W Evenson, Kirk P Gregg, Lawrence D Mcrae, Lewis A Steverson, Lisa Ferrero, Mark S Rogus, Martin J Curran, R Tony Tripeny, Robert F Cummings Jr, Robert Hinchcliffe and Wendell P Weeks. View Institutional Ownership Trends for Corning Incorporated.

Corning Incorporated's stock was sold by a variety of institutional investors in the last quarter, including Dodge & Cox, Hotchkis & Wiley Capital Management LLC, Kiltearn Partners LLP, BlackRock Inc., WINTON GROUP Ltd, CIBC World Markets Inc., State Street Corp and Gotham Asset Management LLC. Company insiders that have sold Corning Incorporated stock in the last year 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, 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 Insider Buying and Selling for Corning Incorporated.

Corning Incorporated's stock was purchased by a variety of institutional investors in the last quarter, including Janus Henderson Group PLC, Parametric Portfolio Associates LLC, Schroder Investment Management Group, AJO LP, FMR LLC, Bank of New York Mellon Corp, Lord Abbett & CO. LLC and Vanguard Group Inc.. View Insider Buying and Selling for Corning Incorporated.

Shares of Corning Incorporated can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Corning Incorporated stock can currently be purchased for approximately $30.03.