Corning Incorporated Company Profile (NYSE:GLW)

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

Corning Incorporated declared a quarterly dividend on Thursday, October 5th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.155 per share on Friday, December 15th. This represents a $0.62 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, November 15th. View Corning Incorporated's Dividend History.

Corning Incorporated (NYSE:GLW) released its quarterly earnings results on Wednesday, July, 26th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm earned $2.59 billion during the quarter, compared to analysts' expectations of $2.54 billion. Corning Incorporated had a net margin of 24.16% and a return on equity of 11.67%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business 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 analysts have issued 1 year price objectives for Corning Incorporated's stock. Their forecasts range from $17.50 to $35.00. On average, they expect Corning Incorporated's stock price to reach $28.73 in the next twelve months. View Analyst Ratings for Corning Incorporated.

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

• 1. According to Zacks Investment Research, "Corning is facing weakness in the Display segment that remains a headwind, which can drag down returns in the rest of 2017. The company also faces price erosion in the same segment. Further, a slowdown in the demand for tablets is a negative as well. Corning has underperformed the industry on a year-to-date basis. Notably, estimates have been going down ahead of the company’s Q3 earnings release. However, strong demand for the company’s fiber-optic products among North American carriers like Verizon is a growth driver. 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. " (10/20/2017)
• 2. 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)
• 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)
• 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 drop in short interest in the month of September. As of September 15th, there was short interest totalling 24,460,985 shares, a drop of 11.2% from the August 31st total of 27,553,312 shares. Based on an average daily trading volume, of 5,090,265 shares, the short-interest ratio is currently 4.8 days. Currently, 2.7% of the company's shares are sold short.

Some companies that are related to Corning Incorporated include T-Mobile US (TMUS), Vmware (VMW), Micron Technology (MU), Relx Plc (RELX), Relx N.V. (RENX), Cognizant Technology Solutions Corporation (CTSH), Koninklijke Philips N.V. (PHG), Canon (CAJ), Intuit (INTU), HP (HPQ), NetEase (NTES), Nokia Corporation (NOK), Infosys Limited (INFY), Lam Research Corporation (LRCX), Analog Devices (ADI), TE Connectivity (TEL), Infineon Technologies AG (IFNNY) and NXP Semiconductors N.V. (NXPI).

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 many different of retail and institutional investors. Top institutional investors include APG Asset Management N.V. (0.27%), PGGM Investments (0.22%), Cacti Asset Management LLC (0.19%), Douglas Lane & Associates LLC (0.12%), Robeco Institutional Asset Management B.V. (0.10%) and Park National Corp OH (0.10%). 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 Douglas Lane & Associates LLC, Nationwide Fund Advisors, Meeder Asset Management Inc., Centre Asset Management LLC, State Treasurer State of Michigan, Hendley & Co. Inc., Denali Advisors LLC and Advisors Capital 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 Inverness Counsel LLC NY, APG Asset Management N.V., BB&T Corp, Rockefeller Financial Services Inc., Park National Corp OH, Mutual of America Capital Management LLC, PGGM Investments and Shell Asset Management Co.. 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 $30.01.