Corning (NYSE:GLW) Earns Positive Rating from Susquehanna

Susquehanna reiterated their positive rating on shares of Corning (NYSE:GLW) in a research note published on Monday morning, Benzinga reports. Susquehanna currently has a $40.00 target price on the electronics maker’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Corning from a sell rating to a hold rating in a research report on Monday. Barclays boosted their target price on shares of Corning from $28.00 to $35.00 and gave the stock an equal weight rating in a research report on Wednesday, January 31st. HSBC lowered shares of Corning from a hold rating to a reduce rating and set a $29.00 target price on the stock. in a research report on Thursday, February 1st. Finally, UBS Group boosted their target price on shares of Corning from $29.00 to $32.00 and gave the stock a neutral rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corning currently has an average rating of Hold and an average price target of $33.67.

Corning Trading Down 0.6 %

NYSE:GLW opened at $32.38 on Monday. Corning has a 12 month low of $25.26 and a 12 month high of $36.01. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 48.32, a P/E/G ratio of 1.85 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $32.35 and its 200-day moving average is $30.32.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Corning had a net margin of 4.62% and a return on equity of 12.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities analysts anticipate that Corning will post 1.86 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 3.46%. Corning’s dividend payout ratio is currently 167.16%.

Insiders Place Their Bets

In other Corning news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of Corning stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the sale, the insider now owns 215,254 shares in the company, valued at $7,155,042.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Corning

Several institutional investors and hedge funds have recently made changes to their positions in GLW. Peoples Bank KS acquired a new stake in shares of Corning in the 3rd quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in shares of Corning in the 3rd quarter valued at $25,000. Janiczek Wealth Management LLC boosted its stake in shares of Corning by 173.6% in the 3rd quarter. Janiczek Wealth Management LLC now owns 900 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 571 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in shares of Corning by 800.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 800 shares in the last quarter. Finally, Pacifica Partners Inc. acquired a new stake in shares of Corning in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.