Oppenheimer Holdings, Inc. reissued their hold rating on shares of Corning Incorporated (NYSE:GLW) in a research report report published on Thursday morning. Oppenheimer Holdings also issued estimates for Corning’s Q3 2017 earnings at $0.41 EPS, Q4 2017 earnings at $0.56 EPS and FY2018 earnings at $1.83 EPS.

A number of other research firms also recently commented on GLW. Drexel Hamilton reaffirmed a sell rating and set a $17.50 price objective on shares of Corning in a research note on Wednesday, July 26th. Jefferies Group LLC restated a hold rating and issued a $27.50 price target on shares of Corning in a report on Friday, July 14th. Susquehanna Bancshares Inc restated a positive rating on shares of Corning in a report on Thursday, July 13th. Vetr upgraded Corning from a buy rating to a strong-buy rating and set a $33.69 price target for the company in a report on Monday, July 10th. Finally, Morgan Stanley restated an equal weight rating and issued a $29.00 price target (up previously from $26.00) on shares of Corning in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $27.81.

Shares of Corning (NYSE GLW) traded up 0.41% during midday trading on Thursday, hitting $29.37. 2,494,320 shares of the stock were exchanged. The firm has a market cap of $26.53 billion, a PE ratio of 13.12 and a beta of 1.41. The firm has a 50-day moving average price of $30.32 and a 200 day moving average price of $28.22. Corning has a 12-month low of $22.07 and a 12-month high of $32.17.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Corning had a net margin of 24.16% and a return on equity of 11.67%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that Corning will post $1.71 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Corning’s (GLW) “Hold” Rating Reaffirmed at Oppenheimer Holdings, Inc.” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/cornings-glw-hold-rating-reaffirmed-at-oppenheimer-holdings-inc/1463819.html.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio is presently 27.93%.

In other Corning news, VP Eric S. Musser sold 23,236 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $29.12, for a total value of $676,632.32. Following the sale, the vice president now directly owns 63,040 shares of the company’s stock, valued at $1,835,724.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 153,500 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at $2,270,265. The disclosure for this sale can be found here. Insiders sold 416,358 shares of company stock worth $12,224,089 over the last ninety days. 0.59% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GLW. Central Bank & Trust Co. raised its position in shares of Corning by 515.2% in the first quarter. Central Bank & Trust Co. now owns 3,919 shares of the electronics maker’s stock worth $106,000 after buying an additional 3,282 shares during the period. Coconut Grove Bank raised its position in shares of Corning by 92.8% in the first quarter. Coconut Grove Bank now owns 3,990 shares of the electronics maker’s stock worth $108,000 after buying an additional 1,920 shares during the period. Jacobus Wealth Management Inc. acquired a new position in shares of Corning during the first quarter worth approximately $108,000. Clean Yield Group acquired a new position in shares of Corning during the first quarter worth approximately $122,000. Finally, Pinnacle Bank acquired a new position in shares of Corning during the first quarter worth approximately $136,000. 72.75% of the stock is currently owned by institutional investors.

About Corning

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).

Analyst Recommendations for Corning (NYSE:GLW)

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.