News stories about Corning (NYSE:GLW) have trended somewhat positive this week, according to Accern. Accern scores the sentiment of press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Corning earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned media stories about the electronics maker an impact score of 45.3957818840809 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- Interesting December Stock Options for GLW (stockoptionschannel.com)
- Zacks: Analysts Anticipate Corning Incorporated (GLW) Will Post Quarterly Sales of $2.58 Billion (americanbankingnews.com)
- Corning Incorporated (GLW) Expected to Announce Earnings of $0.42 Per Share (americanbankingnews.com)
- Corning: Why It Still Belongs In Your Portfolio – Corning Inc. (NYSE … – Seeking Alpha (seekingalpha.com)
- Corning Incorporated (GLW) Given “Buy” Rating at Guggenheim (lightwaveonline.com)
Shares of Corning (GLW) opened at 30.00 on Tuesday. Corning has a one year low of $22.23 and a one year high of $32.17. The firm has a 50-day moving average price of $28.89 and a 200 day moving average price of $28.87. The stock has a market capitalization of $27.10 billion, a PE ratio of 13.40 and a beta of 1.40.
Corning (NYSE:GLW) last released its quarterly earnings results 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 company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. Corning’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities analysts expect that Corning will post $1.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st 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 is Tuesday, August 29th. Corning’s payout ratio is 27.93%.
Several analysts recently commented on the company. Goldman Sachs Group Inc cut Corning from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $29.00 to $26.00 in a research report on Tuesday, August 15th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Corning in a research report on Thursday, July 27th. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a research report on Thursday, July 13th. Guggenheim reiterated a “buy” rating and set a $35.00 price target on shares of Corning in a research report on Tuesday, August 15th. Finally, Vetr upgraded Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target for the company in a research report on Monday, July 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.98.
In other news, VP Christine M. Pambianchi sold 33,000 shares of Corning 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 completion of the sale, the vice president now owns 73,145 shares of the company’s stock, valued at $2,089,021.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of Corning stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $28.61, for a total value of $1,376,856.25. Following the completion of the sale, the insider now directly owns 136,079 shares of the company’s stock, valued at approximately $3,893,220.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,888 shares of company stock valued at $3,653,485. 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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