Zacks Research Has Bullish Outlook for Corning Q4 Earnings

Corning Incorporated (NYSE:GLW) – Equities researchers at Zacks Research increased their Q4 2024 earnings per share estimates for shares of Corning in a note issued to investors on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the electronics maker will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.52. The consensus estimate for Corning’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for Corning’s Q3 2025 earnings at $0.61 EPS and FY2026 earnings at $2.62 EPS.

A number of other research analysts have also weighed in on the company. Bank of America increased their price objective on Corning from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, September 20th. Oppenheimer reissued an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Susquehanna upped their price target on shares of Corning from $46.00 to $55.00 and gave the company a “positive” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.08.

Corning Price Performance

Shares of GLW opened at $48.50 on Friday. 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 company’s fifty day moving average price is $46.33 and its 200-day moving average price is $41.96. Corning has a 1-year low of $27.57 and a 1-year high of $51.03. The firm has a market capitalization of $41.52 billion, a PE ratio of 285.26, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, November 15th. Corning’s payout ratio is currently 658.82%.

Insider Activity

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the completion of the sale, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Corning

Large investors have recently made changes to their positions in the company. City Holding Co. lifted its stake in Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in Corning during the second quarter worth approximately $39,000. Cassady Schiller Wealth Management LLC acquired a new position in Corning during the third quarter worth $39,000. RPg Family Wealth Advisory LLC purchased a new stake in Corning in the 3rd quarter valued at $40,000. Finally, Global Trust Asset Management LLC increased its stake in shares of Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 900 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.