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
Sub-IndustryElectronic Components
SectorComputer and Technology
SymbolNYSE:GLW
CUSIP21935010
Phone607-974-9000
Debt
Debt-to-Equity Ratio0.39
Current Ratio2.56
Quick Ratio1.95
Price-To-Earnings
Trailing P/E Ratio16.51
Forward P/E Ratio16.51
P/E Growth4.19
Sales & Book Value
Annual Sales$10.12 billion
Price / Sales2.33
Cash Flow$3.2973 per share
Price / Cash8.61
Book Value$15.50 per share
Price / Book1.83
Profitability
EPS (Most Recent Fiscal Year)$1.72
Net Income$-497,000,000.00
Net Margins-11.44%
Return on Equity11.66%
Return on Assets5.98%
Miscellaneous
Employees46,200
Outstanding Shares830,350,000
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 Thursday, April 26th. Stockholders of record on Thursday, May 3rd will be given a dividend of $0.18 per share on Friday, June 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, May 2nd. View Corning's Dividend History.
How were Corning's earnings last quarter?
Corning Incorporated (NYSE:GLW) released its quarterly earnings data on Tuesday, April, 24th. The electronics maker reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The electronics maker had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Corning had a positive return on equity of 11.66% and a negative net margin of 11.44%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. View Corning's Earnings History.
When is Corning's next earnings date?
What price target have analysts set for GLW?
11 analysts have issued 1-year target prices for Corning's shares. Their forecasts range from $17.50 to $38.00. On average, they expect Corning's stock price to reach $31.2222 in the next twelve months. 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 is benefiting from strength in the company’s Optical Communications, Environmental Technologies and Life Sciences business lines. Strong demand for Gorilla Glass 5 and its fiber optics products is a key catalyst. The company also benefits from sequential decline in LCD glass prices. Strong demand for company’s Gorilla-sized automotive glass business and additional contract wins are positives. Improvement in heavy-duty diesel truck demand and new gasoline particulate filter business boost diesel sales. Further, penetration into developing regions and product portfolio expansion are tailwinds. Aggressive share buyback favors bottom line growth. However, weakness in the Display segment remains a headwind. Shares of the company have underperformed industry in the past year." (5/22/2018)
- 2. Guggenheim analysts commented, "We continue to see near-term adds setting up meaningful 2H18E leverage and reacceleration driven by capacity and margin expansion, with only minor estimate tweaks keeping our FY18E revenue and EPS estimates unchanged at $10.9B (+6%Y/Y) and $1.73 (+8%Y/Y) ahead of consensus $1.69." (4/24/2018)
Are investors shorting Corning?
Corning saw a increase in short interest in the month of May. As of May 15th, there was short interest totalling 21,120,524 shares, an increase of 29.0% from the April 30th total of 16,377,223 shares. Based on an average trading volume of 5,656,919 shares, the short-interest ratio is currently 3.7 days. Approximately 2.6% of the shares of the stock are short sold. View Corning's Current Options Chain.
Who are some of Corning's key competitors?
Some companies that are related to Corning include NTT Docomo (DCMYY), NTT Docomo (DCM), Baidu (BIDU), ASML (ASML), QUALCOMM (QCOM), SOFTBANK Corp/ADR (SFTBY), Dell Technologies (DVMT), Micron Technology (MU), Vodafone Group (VOD), VMware (VMW), Hon Hai Precision Industry Co., Ltd. GDR - Reg S (HNHPF), Intuit (INTU), America Movil SAB de CV ADR Series L (AMX), T-Mobile Us (TMUS) and Applied Materials (AMAT).
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?
News articles about GLW stock have been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Corning earned a news impact score of 0.22 on Accern's scale. They also gave news articles about the electronics maker an impact score of 46.23 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company's share price in the next few days.
Who are Corning's major shareholders?
Corning's stock is owned by many different of retail and institutional investors. Top institutional investors include BlackRock Inc. (6.58%), LSV Asset Management (1.51%), Northern Trust Corp (1.21%), Dimensional Fund Advisors LP (0.97%), TCW Group Inc. (0.75%) and Levin Capital Strategies L.P. (0.68%). 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 AGF Investments Inc., Inverness Counsel LLC NY, Swiss National Bank, Legal & General Group Plc, DekaBank Deutsche Girozentrale, American Century Companies Inc., Northern Trust Corp and Robeco Institutional Asset Management B.V.. Company insiders that have sold Corning company stock in the last year include Christine M Pambianchi, Clark S Kinlin, David L Morse, Deborah Rieman, Eric S Musser, Hansel E Tookes II, Lawrence D Mcrae, Mark S Rogus and Wendell P Weeks. View Insider Buying and Selling for Corning.
Which major investors are buying Corning stock?
GLW stock was purchased by a variety of institutional investors in the last quarter, including Levin Capital Strategies L.P., Criterion Capital Management LLC, BlackRock Inc., O Shaughnessy Asset Management LLC, Russell Investments Group Ltd., TCW Group Inc., A.R.T. Advisors LLC and WINTON GROUP Ltd. 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 $28.39.
How big of a company is Corning?
Corning has a market capitalization of $23.97 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.
