Shares of Corning Incorporated (NYSE:GLW – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $34.89.
GLW has been the subject of a number of research analyst reports. TheStreet cut Corning from a “b-” rating to a “c+” rating in a research report on Thursday, October 12th. Oppenheimer cut their price objective on shares of Corning from $42.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Corning from a “buy” rating to a “hold” rating and lowered their target price for the company from $37.00 to $30.00 in a report on Wednesday, October 25th. StockNews.com started coverage on shares of Corning in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. decreased their price target on Corning from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th.
Hedge Funds Weigh In On Corning
Corning Trading Up 0.1 %
GLW opened at $27.72 on Tuesday. Corning has a 12 month low of $25.26 and a 12 month high of $37.10. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 10.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.70 and a quick ratio of 1.08. The business has a fifty day moving average price of $29.19 and a 200 day moving average price of $31.59.
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.51 billion. Corning had a return on equity of 12.73% and a net margin of 4.50%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. Sell-side analysts expect that Corning will post 1.71 earnings per share for the current fiscal year.
Corning Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.28 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.04%. Corning’s payout ratio is presently 164.71%.
Corning Company Profile
Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.
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