Corning Incorporated (NYSE:GLW) – Equities research analysts at Jefferies Group boosted their Q3 2018 earnings per share (EPS) estimates for Corning in a research note issued on Wednesday. Jefferies Group analyst G. Notter now expects that the electronics maker will earn $0.47 per share for the quarter, up from their previous estimate of $0.44. Jefferies Group has a “Hold” rating and a $29.50 price target on the stock. Jefferies Group also issued estimates for Corning’s Q4 2018 earnings at $0.54 EPS.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 positive return on equity of 11.62% and a negative net margin of 4.91%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis.

Several other research analysts have also weighed in on the company. Guggenheim reissued a “buy” rating and issued a $35.00 price objective on shares of Corning in a research report on Tuesday, October 24th. Zacks Investment Research lowered Corning from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Citigroup lifted their price objective on Corning from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Deutsche Bank lifted their price objective on Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, ValuEngine raised Corning from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.47.

Corning (GLW) traded down $0.24 during mid-day trading on Friday, hitting $31.45. The stock had a trading volume of 1,822,187 shares, compared to its average volume of 6,601,446. 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 quick ratio of 2.14 and a current ratio of 2.75. The company has a market cap of $27,131.97 and a price-to-earnings ratio of -40.15.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial For Lutherans increased its holdings in Corning by 1.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 34,870 shares of the electronics maker’s stock worth $1,048,000 after purchasing an additional 400 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Corning by 13.4% during the 2nd quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 485 shares in the last quarter. United Bank VA increased its holdings in Corning by 0.8% during the 2nd quarter. United Bank VA now owns 70,570 shares of the electronics maker’s stock worth $2,121,000 after purchasing an additional 583 shares in the last quarter. Sentry Investment Management LLC increased its holdings in Corning by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 72,401 shares of the electronics maker’s stock worth $2,176,000 after purchasing an additional 767 shares in the last quarter. Finally, Colony Group LLC increased its holdings in Corning by 0.5% during the 2nd quarter. Colony Group LLC now owns 142,560 shares of the electronics maker’s stock worth $4,284,000 after purchasing an additional 771 shares in the last quarter. 72.15% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Mark S. Rogus sold 9,242 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $32.12, for a total value of $296,853.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $32.42, for a total value of $1,675,335.92. Following the completion of the sale, the insider now directly owns 136,032 shares of the company’s stock, valued at $4,410,157.44. The disclosure for this sale can be found here. Insiders sold a total of 63,001 shares of company stock valued at $2,039,178 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

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About Corning

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).

Earnings History and Estimates for Corning (NYSE:GLW)

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