Corning (NYSE:GLW) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Corning (NYSE:GLW) posted its earnings results on Wednesday. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01, Zacks reports. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning updated its Q1 2025 guidance to 0.480-0.520 EPS.

Corning Trading Down 0.2 %

GLW traded down $0.10 during trading on Wednesday, hitting $51.13. 2,592,753 shares of the stock traded hands, compared to its average volume of 5,293,321. The firm has a 50-day moving average of $48.62 and a 200 day moving average of $45.57. Corning has a 12-month low of $30.72 and a 12-month high of $55.33. The firm has a market capitalization of $43.77 billion, a P/E ratio of 304.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05.

Insider Activity

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares in the company, valued at $324,213. This represents a 42.74 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Citigroup raised their price target on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. UBS Group raised their target price on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Corning Company Profile

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.