News headlines about Corning (NYSE:GLW) have trended somewhat positive on Saturday, according to Accern. Accern scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Corning earned a coverage optimism score of 0.07 on Accern’s scale. Accern also assigned media coverage about the electronics maker an impact score of 46.1940265424746 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern’s scoring:
GLW has been the topic of several research analyst reports. Goldman Sachs Group raised Corning from a “sell” rating to a “neutral” rating and set a $29.00 target price on the stock in a research note on Wednesday. ValuEngine cut Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Corning from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Thursday, April 26th. Morgan Stanley upgraded Corning from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 31st. Finally, Guggenheim set a $35.00 price target on Corning and gave the company a “buy” rating in a research report on Thursday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Corning presently has a consensus rating of “Hold” and an average price target of $31.61.
Corning opened at $28.49 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.95 and a current ratio of 2.56. Corning has a twelve month low of $26.11 and a twelve month high of $35.10. The company has a market cap of $23.57 billion, a P/E ratio of 16.56, a PEG ratio of 4.12 and a beta of 1.34.
Corning (NYSE:GLW) last released its earnings results on Tuesday, April 24th. The electronics maker reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Corning had a positive return on equity of 11.66% and a negative net margin of 11.44%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. research analysts predict that Corning will post 1.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, May 3rd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, May 2nd. Corning’s dividend payout ratio (DPR) is 41.86%.
In other Corning news, insider David L. Morse sold 33,000 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $28.81, for a total value of $950,730.00. Following the sale, the insider now directly owns 46,953 shares of the company’s stock, valued at $1,352,715.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 224,884 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $28.71, for a total value of $6,456,419.64. Following the completion of the sale, the chief executive officer now directly owns 111,835 shares in the company, valued at $3,210,782.85. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
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.
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.