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Corning - GLW Stock Forecast, Price & News

$37.14
+0.34 (+0.92%)
(As of 08/11/2022 04:35 PM ET)
Add
Compare
Today's Range
$37.00
$37.71
50-Day Range
$31.37
$36.80
52-Week Range
$30.63
$43.47
Volume
3.93 million shs
Average Volume
5.04 million shs
Market Capitalization
$31.40 billion
P/E Ratio
15.94
Dividend Yield
2.93%
Price Target
$42.80

Corning MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.60 Rating Score
Upside/​Downside
15.4% Upside
$42.80 Price Target
Short Interest
Healthy
1.66% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
-0.20mentions of Corning in the last 14 days
Based on 11 Articles This Week
Insider Trading
Selling Shares
$204,603 Sold Last Quarter
Proj. Earnings Growth
11.21%
From $2.23 to $2.48 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.79 out of 5 stars

Computer And Technology Sector

100th out of 658 stocks

Nonferrous Wiredrawing & Insulating Industry

1st out of 2 stocks

GLW stock logo

About Corning (NYSE:GLW) Stock

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GLW. Barclays cut shares of Corning from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $53.00 to $38.00 in a report on Wednesday, May 11th. Morgan Stanley reiterated a "hold" rating and issued a $40.00 price target on shares of Corning in a report on Thursday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Corning from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, July 14th. Susquehanna Bancshares cut their price target on shares of Corning from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Wednesday, July 27th. Finally, UBS Group lowered their price objective on Corning to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.80.

Corning Price Performance

GLW opened at $36.80 on Thursday. The stock has a 50-day moving average price of $33.81 and a 200-day moving average price of $36.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 0.91. The firm has a market cap of $31.11 billion, a PE ratio of 15.79, a P/E/G ratio of 2.44 and a beta of 0.99. Corning has a 1 year low of $30.63 and a 1 year high of $43.47.

Corning (NYSE:GLW - Get Rating) last issued its earnings results on Tuesday, July 26th. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. Corning had a return on equity of 15.38% and a net margin of 13.73%. Corning's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Sell-side analysts predict that Corning will post 2.23 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.08 annualized dividend and a yield of 2.93%. Corning's payout ratio is 46.35%.

Insider Transactions at Corning

In other news, SVP John P. Bayne, Jr. sold 5,575 shares of the company's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $36.70, for a total transaction of $204,602.50. Following the sale, the senior vice president now directly owns 7,345 shares of the company's stock, valued at approximately $269,561.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company's stock.

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GLW Stock News Headlines

Corning (NYSE:GLW) Rating Lowered to Hold at StockNews.com
Corning (NYSE:GLW) PT Lowered to $40.00 at UBS Group
Susquehanna Cuts Corning (NYSE:GLW) Price Target to $46.00
Corning (GLW) Q2 2022 Earnings Call Transcript
Corning: Q2 Earnings Snapshot - Greenwich Time
See More Headlines
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GLW Company Calendar

Ex-Dividend for 6/29 Dividend
5/27/2022
Dividend Payable
6/29/2022
Last Earnings
7/26/2022
Today
8/11/2022
Ex-Dividend for 9/29 Dividend
8/30/2022
Dividend Payable
9/29/2022
Next Earnings (Estimated)
10/25/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Nonferrous wiredrawing & insulating
Sub-Industry
Electronic Components
CUSIP
21935010
Employees
61,200
Year Founded
1851

Price Target and Rating

Average Stock Price Forecast
$42.80
High Stock Price Forecast
$50.00
Low Stock Price Forecast
$37.00
Forecasted Upside/Downside
+15.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.60
Research Coverage
10 Analysts

Profitability

Net Income
$1.91 billion
Pretax Margin
17.57%

Debt

Sales & Book Value

Annual Sales
$14.08 billion
Cash Flow
$4.05 per share
Book Value
$14.18 per share

Miscellaneous

Free Float
842,275,000
Market Cap
$31.40 billion
Optionable
Optionable
Beta
0.99

Social Links















GLW Stock - Frequently Asked Questions

Should I buy or sell Corning stock right now?

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 4 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GLW shares.
View GLW analyst ratings
or view top-rated stocks.

What is Corning's stock price forecast for 2022?

10 equities research analysts have issued 1 year price targets for Corning's stock. Their GLW share price forecasts range from $37.00 to $50.00. On average, they anticipate the company's stock price to reach $42.80 in the next twelve months. This suggests a possible upside of 13.9% from the stock's current price.
View analysts price targets for GLW
or view top-rated stocks among Wall Street analysts.

How have GLW shares performed in 2022?

Corning's stock was trading at $37.23 at the start of the year. Since then, GLW stock has increased by 1.0% and is now trading at $37.59.
View the best growth stocks for 2022 here
.

Are investors shorting Corning?

Corning saw a drop in short interest in July. As of July 31st, there was short interest totaling 12,630,000 shares, a drop of 38.1% from the July 15th total of 20,400,000 shares. Based on an average trading volume of 4,840,000 shares, the short-interest ratio is currently 2.6 days. Approximately 1.7% of the company's shares are sold short.
View Corning's Short Interest
.

When is Corning's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 25th 2022.
View our GLW earnings forecast
.

How were Corning's earnings last quarter?

Corning Incorporated (NYSE:GLW) released its quarterly earnings data on Tuesday, July, 26th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The electronics maker earned $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. Corning had a trailing twelve-month return on equity of 15.38% and a net margin of 13.73%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS.
Read the conference call transcript
.

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

Corning declared a quarterly dividend on Thursday, June 30th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.27 per share on Thursday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, August 30th.
Read our dividend analysis for GLW
.

Is Corning a good dividend stock?

Corning (NYSE:GLW) pays an annual dividend of $1.08 per share and currently has a dividend yield of 3.05%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 46.35%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GLW will have a dividend payout ratio of 43.55% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

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

Corning issued an update on its FY 2022 earnings guidance on Thursday, August, 4th. The company provided EPS guidance of for the period. The company issued revenue guidance of $15.00B-, compared to the consensus revenue estimate of $15.35 billion.

What is Wendell P. Weeks' approval rating as Corning's CEO?

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

What other stocks do shareholders of Corning own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).

What is Corning's stock symbol?

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

Who are Corning's major shareholders?

Corning's stock is owned by a number of institutional and retail investors. Top institutional investors include Truist Financial Corp (0.45%), Swiss National Bank (0.41%), Envestnet Asset Management Inc. (0.39%), California Public Employees Retirement System (0.37%), Deutsche Bank AG (0.36%) and Sumitomo Mitsui Trust Holdings Inc. (0.30%). Insiders that own company stock include Christine M Pambianchi, Clark S Kinlin, David L Morse, David L Morse, Deborah Rieman, Display Co Ltd Samsung, Edward A Schlesinger, Eric S Musser, Hansel E Tookes II, John P Bayne Jr, John Z Zhang, Lawrence D Mcrae, Lawrence D Mcrae, Lewis A Steverson, Li Fang, Martin J Curran, Michael Alan Bell, R Tony Tripeny, Robert P France, Robert P France, Roger W Jr Ferguson, Stefan Becker, Thomas Peterffy, Wendell P Weeks and Wendell P Weeks.
View institutional ownership trends
.

How do I buy shares of Corning?

Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Corning's stock price today?

One share of GLW stock can currently be purchased for approximately $37.59.

How much money does Corning make?

Corning (NYSE:GLW) has a market capitalization of $31.78 billion and generates $14.08 billion in revenue each year. The electronics maker earns $1.91 billion in net income (profit) each year or $2.33 on an earnings per share basis.

How many employees does Corning have?

The company employs 61,200 workers across the globe.

Does Corning have any subsidiaries?

The following companies are subsidiares of Corning: 3M Communication, Alliance Fiber Optic Products Inc., Axygen BioScience Inc., Axygen Holdings Corporation, Axygen Inc., CCS Holdings Inc., Chengdu Honing Display Glass Co. Ltd., Corning (Hainan) Optical Communications Co. Ltd., Corning (Shanghai) Co. Ltd., Corning B.V., Corning China (Shanghai) Regional Headquarter, Corning Display Technologies (China) Co. Ltd., Corning Display Technologies (Chongqing) Co. Ltd., Corning Display Technologies (Guangzhou) Co. Ltd., Corning Display Technologies (Hefei) Co. Ltd., Corning Display Technologies (Wuhan) Co. Ltd., Corning Display Technologies Taiwan Co. Ltd., Corning Environmental Technologies (Hefei) Co. Ltd., Corning Finance B.V., Corning Finance Luxembourg S.à.r.l., Corning GmbH, Corning Holding GmbH, Corning Hungary Data Services Limited Liability Company, Corning International Corporation, Corning International Luxembourg S.à.r.l., Corning International Netherlands B.V., Corning Japan K.K., Corning Luxembourg S.à.r.l., Corning NetOptix Inc., Corning Oak Holding LLC, Corning Optical Communications GmbH & Co. KG, Corning Optical Communications Holding Co. Inc., Corning Optical Communications LLC, Corning Optical Communications Polska Sp.zo.o., Corning Optical Communications Pty. Ltd, Corning Optical Communications RF LLC, Corning Optical Communications Vermoegensverwaltungsgesellschaft mbH, Corning Optical Fiber Cable (Chengdu) Co. Ltd., Corning Pharmaceutical Glass LLC, Corning Precision Materials Co. Ltd., Corning Property Management Corporation, Corning Research & Development Corporation, Corning SAS, Corning SK Luxembourg S.a r.l., Corning Singapore Holdings Private Limited, Corning Specialty Materials Inc., Corning Technologies (H.K.) Limited, Corning Technologies India Private Limited, Corning Technologies SARL, Corning Telecommunications Luxembourg S.à.r.l., Corning Tropel Corporation, Corning Ventures France SAS, Corning Ventures S.à.r.l., DC HSC Holdings LLC, Discovery Labware Inc., Eurokera (Thailand) Limited, Eurokera Guangzhou Co. Ltd., Eurokera North America Inc., Eurokera S.N.C., Gerresheimer AG, Hemlock Semiconductor L.L.C., Keraglass S.N.C., Mediatech Inc., MobileAccess Networks, Phoenix Venture Partners II LP, Photonics Technology Research Center, STRAN Technologies, Saint-Gobain Corning Automotive Glazing S.N.C., Samsung Corning Advanced Glass LLC, SpiderCloud Wireless, TR Manufacturing LLC, US Conec Ltd., Xianyang Honing Display Glass Co. Ltd., and iBwave Solutions Inc..
Read More

When was Corning founded?

Corning was founded in 1851.

How can I contact Corning?

Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The official website for the company is www.corning.com. The electronics maker can be reached via phone at (607) 974-9000, via email at irinfo@corning.com, or via fax at 607-974-2063.

This page (NYSE:GLW) was last updated on 8/11/2022 by MarketBeat.com Staff

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