Corning (GLW) Earning Somewhat Positive Media Coverage, Analysis Finds
Media stories about Corning (NYSE:GLW) have trended somewhat positive this week, according to Accern. The research group rates the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Corning earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned news articles about the electronics maker an impact score of 46.9997657118986 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Corning Incorporated : Recognized as Top Supplier by ZEISS (4-traders.com)
- Is Corning Incorporated (GLW) a Suitable Value Stock? – Nasdaq (nasdaq.com)
- ETFs with exposure to Corning, Inc. : November 20, 2017 (finance.yahoo.com)
- Zacks: Brokerages Anticipate Corning Incorporated (GLW) to Announce $0.47 Earnings Per Share (americanbankingnews.com)
Several research firms recently issued reports on GLW. BidaskClub lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) lowered Corning from a “neutral” rating to a “sell” rating and dropped their price target for the company from $29.00 to $26.00 in a research report on Tuesday, August 15th. Vetr raised Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target on the stock in a research report on Thursday, July 27th. Guggenheim reissued a “buy” rating and set a $35.00 price target on shares of Corning in a research report on Tuesday, October 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $29.50 price target on shares of Corning in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.28.
Shares of Corning (NYSE GLW) traded down $0.13 on Thursday, reaching $31.80. The company had a trading volume of 3,092,341 shares, compared to its average volume of 6,183,463. The company has a market cap of $27,749.00, a P/E ratio of 18.35, a P/E/G ratio of 2.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.14 and a current ratio of 2.69. Corning has a 52-week low of $23.48 and a 52-week high of $32.33.
Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Corning had a return on equity of 11.53% and a net margin of 24.98%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities analysts predict that Corning will post 1.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.95%. Corning’s payout ratio is 26.38%.
In other news, VP Christine M. Pambianchi sold 33,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total value of $942,480.00. Following the completion of the transaction, the vice president now owns 73,145 shares of the company’s stock, valued at $2,089,021.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark S. Rogus sold 9,242 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $32.12, for a total value of $296,853.04. The disclosure for this sale can be found here. In the last three months, insiders sold 375,686 shares of company stock valued at $11,573,835. Company 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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