Several analysts have recently updated their ratings and price targets for Corning (NYSE: GLW):

  • 7/31/2017 – Corning was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/27/2017 – Corning had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 7/27/2017 – Corning had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $29.50 price target on the stock.
  • 7/27/2017 – Corning was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $33.69 price target on the stock.
  • 7/26/2017 – Corning had its “sell” rating reaffirmed by analysts at Drexel Hamilton. They now have a $17.50 price target on the stock. They wrote, “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.””
  • 7/14/2017 – Corning had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $27.50 price target on the stock.
  • 7/13/2017 – Corning had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc.
  • 7/10/2017 – Corning was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $33.69 price target on the stock.
  • 7/4/2017 – Corning was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $33.69 price target on the stock.
  • 6/28/2017 – Corning was upgraded by analysts at Vetr from a “sell” rating to a “buy” rating. They now have a $33.69 price target on the stock.
  • 6/19/2017 – Corning had its “sell” rating reaffirmed by analysts at Drexel Hamilton. They wrote, “We believe this is not sustainable during an economic downturn and especially when China ramps up its glass industry.””
  • 6/19/2017 – Corning had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $29.00 price target on the stock, up previously from $26.00.

Corning Incorporated (NYSE:GLW) traded up 1.40% during midday trading on Friday, hitting $28.97. 1,667,781 shares of the company traded hands. Corning Incorporated has a 12-month low of $22.14 and a 12-month high of $32.17. The stock’s 50-day moving average price is $30.28 and its 200 day moving average price is $28.50. The company has a market capitalization of $26.17 billion, a price-to-earnings ratio of 12.94 and a beta of 1.40.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. Corning 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 quarter in the previous year, the firm posted $0.37 EPS. On average, equities analysts forecast that Corning Incorporated will post $1.71 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio is currently 27.93%.

In other Corning news, CEO Wendell P. Weeks sold 153,500 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $29.58, for a total value of $4,540,530.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $2,270,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Clappin sold 106,983 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $29.25, for a total transaction of $3,129,252.75. Following the sale, the insider now directly owns 91,552 shares of the company’s stock, valued at approximately $2,677,896. The disclosure for this sale can be found here. Insiders sold a total of 387,700 shares of company stock valued at $11,389,405 in the last three months. Insiders own 0.59% of the company’s stock.

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Receive News & Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.