Corning Inc. (NYSE:GLW) – Stock analysts at Oppenheimer lifted their Q3 2018 earnings per share (EPS) estimates for shares of Corning in a research note issued to investors on Tuesday, April 24th. Oppenheimer analyst A. Uerkwitz now anticipates that the electronics maker will earn $0.57 per share for the quarter, up from their prior estimate of $0.50. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Corning’s Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $1.81 EPS and FY2019 earnings at $1.93 EPS.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 24th. The electronics maker reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. Corning had a positive return on equity of 11.66% and a negative net margin of 11.44%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year.

GLW has been the subject of a number of other reports. Citigroup boosted their price target on Corning from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Barclays set a $38.00 price target on Corning and gave the company a “buy” rating in a report on Wednesday, January 10th. Guggenheim reissued a “buy” rating on shares of Corning in a report on Tuesday, January 30th. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, TheStreet downgraded Corning from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Corning presently has an average rating of “Hold” and a consensus target price of $30.97.

Corning stock opened at $27.23 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.56 and a quick ratio of 2.22. Corning has a 52 week low of $26.31 and a 52 week high of $35.10. The stock has a market cap of $23,065.49, a P/E ratio of 16.30, a PEG ratio of 3.90 and a beta of 1.36.

Institutional investors have recently bought and sold shares of the company. Motco increased its position in shares of Corning by 150.4% during the fourth quarter. Motco now owns 3,538 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 2,125 shares in the last quarter. Financial Advocates Investment Management purchased a new stake in shares of Corning during the fourth quarter worth approximately $130,000. Valeo Financial Advisors LLC increased its position in shares of Corning by 163.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,991 shares of the electronics maker’s stock worth $160,000 after purchasing an additional 3,100 shares in the last quarter. Resources Investment Advisors Inc. increased its position in shares of Corning by 611.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 5,190 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 4,460 shares in the last quarter. Finally, Boys Arnold & Co. Inc. purchased a new stake in shares of Corning during the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 72.71% of the company’s stock.

In other Corning news, Director John A. Canning, Jr. acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average cost of $29.60 per share, for a total transaction of $888,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christine M. Pambianchi sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $29.90, for a total value of $29,900.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 3rd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, May 2nd. Corning’s dividend payout ratio (DPR) is presently 41.86%.

Corning Company Profile

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.

Earnings History and Estimates for Corning (NYSE:GLW)

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