Corning (NYSE:GLW) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, April 24th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.
Corning (NYSE:GLW) last released its earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.65 billion. Corning had a positive return on equity of 11.63% and a negative net margin of 4.91%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
NYSE:GLW opened at $27.49 on Tuesday. The firm has a market cap of $23,511.37, a PE ratio of 15.98, a P/E/G ratio of 4.07 and a beta of 1.36. The company has a quick ratio of 2.22, a current ratio of 2.75 and a debt-to-equity ratio of 0.35. Corning has a fifty-two week low of $26.31 and a fifty-two week high of $35.10.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from Corning’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 27th. Corning’s dividend payout ratio is presently 41.86%.
In other news, Director John A. Canning, Jr. bought 30,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $29.60 per share, with a total value of $888,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christine M. Pambianchi sold 1,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $29.90, for a total value of $29,900.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
GLW has been the subject of a number of recent analyst reports. Guggenheim reiterated a “buy” rating on shares of Corning in a research report on Tuesday, January 30th. Barclays set a $38.00 target price on Corning and gave the company a “buy” rating in a research report on Wednesday, January 10th. ValuEngine upgraded Corning from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Corning from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, December 19th. Finally, TheStreet downgraded Corning from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.22.
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Corning Company Profile
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
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