Corning (GLW) Given Media Sentiment Score of 0.16
Media stories about Corning (NYSE:GLW) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group rates the sentiment of media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Corning earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the electronics maker an impact score of 46.7248891563595 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Stock Have Good EPS Growth Momentum For Next Year: Corning Incorporated (GLW) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Corning Incorporated (GLW) stock RSI moves below 30, could lead to an upward move – Nasdaq Chronicle (press release) (nasdaqchronicle.com)
- Corning Incorporated: Corning Honored with Cummins’ New Product Development Award – GlobeNewswire (press release) (globenewswire.com)
- Corning Incorporated (GLW) – Momentum Active stock to Focus – Wall Street Morning (wallstreetmorning.com)
- Better Buy: Corning Incorporated vs. Qualcomm Inc. – Motley Fool (fool.com)
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Guggenheim reaffirmed a “buy” rating on shares of Corning in a report on Tuesday, January 30th. Zacks Investment Research raised shares of Corning from a “strong sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Citigroup raised their price target on shares of Corning from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.47.
Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.65 billion. Corning had a negative net margin of 4.91% and a positive return on equity of 11.62%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. equities research analysts predict that Corning will post 1.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from Corning’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. Corning’s payout ratio is -78.48%.
In other news, Director Deborah Rieman sold 2,083 shares of Corning stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $32.16, for a total value of $66,989.28. Following the completion of the transaction, the director now directly owns 102,896 shares of the company’s stock, valued at approximately $3,309,135.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of Corning stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the completion of the transaction, the insider now directly owns 136,032 shares of the company’s stock, valued at $4,410,157.44. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.
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Corning Company Profile
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).
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