Press coverage about Corning (NYSE:GLW) has trended somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by reviewing 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 one, with scores closest to one being the most favorable. Corning earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned media headlines about the electronics maker an impact score of 45.9502038615365 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Corning Incorporated (GLW) predicted 14.66% EPS growth for next year – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Where to look at buying opportunities on Corning Incorporated (GLW) – Wall Street Morning (wallstreetmorning.com)
- Corning Incorporated (GLW) Sees Significant Drop in Short Interest (americanbankingnews.com)
- Insider Selling: Corning Incorporated (GLW) VP Sells 1,000 Shares of Stock (americanbankingnews.com)
- Beta factor is Very High in this Stock: Corning Incorporated (GLW) – Wallstreet Investorplace (wallstreetinvestorplace.com)
Several equities research analysts recently weighed in on GLW shares. Guggenheim reissued a “buy” rating on shares of Corning in a report on Tuesday, January 30th. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised Corning from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, December 19th. Barclays set a $38.00 price objective on Corning and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, TheStreet downgraded Corning from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.22.
Shares of Corning (GLW) traded down $0.03 on Friday, reaching $29.50. The company’s stock had a trading volume of 10,013,106 shares, compared to its average volume of 7,602,212. The firm has a market cap of $25,470.00, a P/E ratio of -43.38, a PEG ratio of 4.42 and a beta of 1.35. Corning has a 52-week low of $26.32 and a 52-week 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.
Corning (NYSE:GLW) last announced its earnings results on Tuesday, January 30th. The electronics maker reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.65 billion. Corning had a positive return on equity of 11.63% and a negative net margin of 4.91%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. equities research analysts forecast that Corning will post 1.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, February 27th. This is an increase from Corning’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 2.44%. Corning’s payout ratio is presently -105.88%.
In other Corning news, Director John A. Canning, Jr. acquired 30,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $29.60 per share, with a total value of $888,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christine M. Pambianchi sold 1,000 shares of Corning stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $29.90, for a total value of $29,900.00. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.
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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