News coverage about Corning (NYSE:GLW) has trended somewhat positive recently, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Corning earned a daily sentiment score of 0.20 on Accern’s scale. Accern also assigned news articles about the electronics maker an impact score of 46.2989661347928 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news articles that may have effected Accern Sentiment’s scoring:
- Corning’s (GLW) Hold Rating Reiterated at Jefferies Group LLC (americanbankingnews.com)
- Corning Incorporated (GLW) Plans Quarterly Dividend of $0.16 (americanbankingnews.com)
- Corning Declares Quarterly Dividend (nasdaq.com)
- One Put, One Call Option To Know About for Corning – Nasdaq (nasdaq.com)
- Corning Incorporated (GLW) Short Interest Update (americanbankingnews.com)
A number of research firms have recently commented on GLW. Drexel Hamilton reissued a “sell” rating and issued a $17.50 price target on shares of Corning in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and issued a $27.50 price target on shares of Corning in a research report on Friday, July 14th. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Corning in a research report on Thursday, July 13th. Vetr raised shares of Corning from a “sell” rating to a “buy” rating and set a $33.69 price target on the stock in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Corning in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Corning has an average rating of “Hold” and an average price target of $28.90.
Shares of Corning (NYSE GLW) traded down 1.18% during trading on Friday, reaching $30.09. 4,632,920 shares of the company were exchanged. The stock has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.44 and a beta of 1.38. The company has a 50 day moving average price of $29.29 and a 200-day moving average price of $29.09. Corning has a one year low of $22.23 and a one year high of $32.17.
Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. Equities analysts predict that Corning will post $1.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 15th. Corning’s payout ratio is 27.93%.
In related news, VP Christine M. Pambianchi sold 33,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total value of $942,480.00. Following the transaction, the vice president now owns 73,145 shares in the company, valued at $2,089,021.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clark S. Kinlin sold 46,763 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $28.53, for a total value of $1,334,148.39. Following the completion of the transaction, the insider now owns 72,039 shares in the company, valued at approximately $2,055,272.67. The disclosure for this sale can be found here. Insiders have sold a total of 127,888 shares of company stock worth $3,653,485 in the last quarter. Company insiders own 0.59% of the company’s stock.
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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