Corning (GLW) Given Daily Media Sentiment Score of 0.08
Press coverage about Corning (NYSE:GLW) has been trending somewhat positive this week, Accern reports. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Corning earned a news impact score of 0.08 on Accern’s scale. Accern also assigned news headlines about the electronics maker an impact score of 46.1729458703726 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Q4 2018 EPS Estimates for Corning Incorporated Cut by Analyst (GLW) (americanbankingnews.com)
- Corning Incorporated (GLW) Given Average Recommendation of “Hold” by Analysts (americanbankingnews.com)
- Active Stocks Alert: Corning Incorporated (GLW) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Corning Incorporated (NYSE:GLW) – Performance Evaluation – Nasdaq Journal (press release) (nasdaqjournal.com)
- Lawrence D. Mcrae Sells 51,676 Shares of Corning Incorporated (GLW) Stock (americanbankingnews.com)
Several research analysts recently weighed in on GLW shares. Zacks Investment Research raised shares of Corning from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, December 19th. Guggenheim restated a “buy” rating and set a $35.00 target price on shares of Corning in a report on Tuesday, December 12th. Deutsche Bank raised their target price on shares of Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Oppenheimer restated a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Finally, Jefferies Group restated a “hold” rating and set a $29.50 target price on shares of Corning in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Corning presently has a consensus rating of “Hold” and a consensus price target of $29.76.
Shares of Corning (NYSE:GLW) traded up $0.08 during mid-day trading on Monday, reaching $32.38. 2,392,600 shares of the company’s stock traded hands, compared to its average volume of 6,123,271. The company has a quick ratio of 2.14, a current ratio of 2.69 and a debt-to-equity ratio of 0.26. Corning has a 52-week low of $24.12 and a 52-week high of $32.81. The firm has a market cap of $28,210.00, a P/E ratio of 13.78, a P/E/G ratio of 2.69 and a beta of 1.33.
Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Corning had a net margin of 24.98% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. sell-side analysts forecast that Corning will post 1.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 16th were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.91%. Corning’s dividend payout ratio (DPR) is presently 26.38%.
In related news, insider Mark S. Rogus sold 9,242 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $32.12, for a total value of $296,853.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 248,857 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $31.37, for a total transaction of $7,806,644.09. Following the completion of the transaction, the chief executive officer now directly owns 65,333 shares of the company’s stock, valued at $2,049,496.21. The disclosure for this sale can be found here. Insiders sold 348,320 shares of company stock worth $10,996,824 over the last quarter. 0.59% of the stock is owned by corporate insiders.
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Corning Company Profile
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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