Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Corning (GLW) Share Price
News coverage about Corning (NYSE:GLW) has been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Corning earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned news coverage about the electronics maker an impact score of 46.622994349564 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Corning’s New $4 Billion Opportunity – Madison.com (host.madison.com)
- See what the IHS Markit Score report has to say about Corning Inc. (finance.yahoo.com)
- Corning's New $4 Billion Opportunity (finance.yahoo.com)
- NA Continues to Hold Position in Corning Incorporated (NYSE:GLW) (expressnewsline.com)
- LTD. Maintains Position in Corning Incorporated (NYSE:GLW) (bulhufas.com)
GLW has been the subject of a number of analyst reports. Drexel Hamilton upped their price target on Corning from $14.50 to $17.50 and gave the stock a “sell” rating in a research report on Wednesday, April 26th. Deutsche Bank AG restated a “buy” rating and issued a $33.00 price target (up previously from $30.00) on shares of Corning in a research report on Saturday, April 29th. Vetr upgraded Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target for the company in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $29.00 price target on shares of Corning in a research report on Wednesday, April 26th. Finally, Zacks Investment Research upgraded Corning from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Corning has a consensus rating of “Hold” and a consensus target price of $27.81.
Corning (NYSE:GLW) opened at 29.36 on Thursday. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of 13.11 and a beta of 1.40. Corning has a 52 week low of $22.14 and a 52 week high of $32.17. The company’s 50-day moving average price is $30.34 and its 200-day moving average price is $28.37.
Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Corning had a return on equity of 11.67% and a net margin of 24.16%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $0.37 EPS. Corning’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Corning will post $1.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.62 annualized dividend and a yield of 2.11%. Corning’s dividend payout ratio (DPR) is currently 27.93%.
In other Corning news, CEO Wendell P. Weeks sold 153,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $29.58, for a total transaction of $4,540,530.00. Following the completion of the sale, the chief executive officer now directly owns 76,750 shares in the company, valued at approximately $2,270,265. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lewis A. Steverson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $29.00, for a total value of $870,000.00. Following the sale, the insider now owns 3,859 shares of the company’s stock, valued at $111,911. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 387,700 shares of company stock valued at $11,389,405. 0.59% of the stock is owned by company insiders.
WARNING: This article was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/08/10/somewhat-favorable-media-coverage-somewhat-unlikely-to-affect-corning-glw-share-price.html.
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 MarketBeat.com's FREE daily email newsletter.