Corning (GLW) Getting Somewhat Favorable Media Coverage, Analysis Finds

Headlines about Corning (NYSE:GLW) have been trending somewhat positive this week, Accern reports. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Corning earned a daily sentiment score of 0.17 on Accern’s scale. Accern also gave news stories about the electronics maker an impact score of 46.6353360977749 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

Here are some of the news stories that may have impacted Accern’s analysis:

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Several brokerages recently issued reports on GLW. Citigroup raised their target price on shares of Corning from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Barclays set a $38.00 target price on shares of Corning and gave the stock a “buy” rating in a report on Wednesday, January 10th. Guggenheim reiterated a “buy” rating on shares of Corning in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, December 19th. Finally, ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $31.22.

Shares of Corning stock traded up $0.26 on Tuesday, hitting $27.75. 5,325,366 shares of the company’s stock were exchanged, compared to its average volume of 7,302,747. The stock has a market capitalization of $23,511.37, a PE ratio of 16.13, a P/E/G ratio of 4.07 and a beta of 1.36. 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.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the company posted $0.50 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. research analysts anticipate that Corning will post 1.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Wednesday, February 28th were paid a dividend of $0.18 per share. This is a boost from Corning’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. Corning’s payout ratio is 41.86%.

In related 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 legal filing with the SEC, which is available at the SEC website. Also, Director John A. Canning, Jr. bought 30,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $29.60 per share, for a total transaction of $888,000.00. The disclosure for this purchase can be found here. 0.46% of the stock is currently owned by insiders.

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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.

Insider Buying and Selling by Quarter for Corning (NYSE:GLW)

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