Corning (GLW) Scheduled to Post Earnings on Tuesday

Corning (NYSE:GLW) is scheduled to release its earnings data before the market opens on Tuesday, April 24th. Analysts expect Corning to post earnings of $0.33 per share for the quarter.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Corning had a negative net margin of 4.91% and a positive return on equity of 11.63%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Corning’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

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NYSE:GLW opened at $27.55 on Monday. Corning has a 1 year low of $26.31 and a 1 year high of $35.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.75 and a quick ratio of 2.22. The company has a market capitalization of $23,622.83, a PE ratio of 16.02, a PEG ratio of 4.09 and a beta of 1.36.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Corning’s previous quarterly dividend of $0.16. Corning’s payout ratio is 41.86%.

In other Corning news, VP Christine M. Pambianchi sold 1,000 shares of Corning stock in a transaction on Monday, March 12th. The shares were sold at an average price of $29.90, for a total transaction of $29,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Canning, Jr. bought 30,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were acquired at an average cost of $29.60 per share, with a total value of $888,000.00. The disclosure for this purchase can be found here. Company insiders own 0.46% of the company’s stock.

A number of research firms have recently issued reports on GLW. Oppenheimer reiterated a “hold” rating on shares of Corning in a research note on Wednesday, January 31st. Citigroup raised their price target on shares of Corning from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. TheStreet lowered shares of Corning from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Guggenheim reissued a “buy” rating on shares of Corning in a report on Tuesday, January 30th. Finally, ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.52.

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About Corning

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.

Earnings History for Corning (NYSE:GLW)

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