Corning (GLW) Projected to Post Quarterly Earnings on Wednesday

Corning (NYSE:GLW) is expected to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $0.56 per share and revenue of $3,761,910.25 billion for the quarter. Corning has set its Q4 guidance at $0.53-0.57 EPS and its Q4 2024 guidance at 0.530-0.570 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Corning’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Corning Trading Up 3.5 %

NYSE:GLW opened at $51.58 on Wednesday. The stock has a market cap of $44.17 billion, a PE ratio of 303.43, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. Corning has a fifty-two week low of $30.30 and a fifty-two week high of $52.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The stock’s 50-day moving average is $47.98 and its two-hundred day moving average is $45.16.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GLW. Morgan Stanley upped their price objective on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Barclays boosted their price target on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Activity

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. This trade represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Corning Company Profile

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.