Corning Incorporated (NYSE:GLW) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Corning Incorporated (NYSE:GLW - Get Free Report) have been given an average rating of "Moderate Buy" by the fourteen brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $50.08.

A number of research analysts have commented on GLW shares. StockNews.com upgraded Corning from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Bank of America raised their price target on Corning from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, September 20th. Morgan Stanley reissued an "equal weight" rating and set a $39.00 price objective on shares of Corning in a report on Friday, July 26th. Barclays raised their target price on shares of Corning from $40.00 to $53.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. City Holding Co. boosted its position in shares of Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker's stock worth $32,000 after buying an additional 600 shares during the period. Accordant Advisory Group Inc acquired a new position in Corning during the 2nd quarter worth approximately $39,000. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning during the 3rd quarter worth approximately $39,000. RPg Family Wealth Advisory LLC bought a new position in shares of Corning during the 3rd quarter worth approximately $40,000. Finally, Global Trust Asset Management LLC lifted its position in shares of Corning by 2,250.0% in the third quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker's stock worth $42,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Stock Up 1.4 %

Shares of NYSE GLW opened at $48.50 on Friday. Corning has a 12-month low of $27.57 and a 12-month high of $51.03. The firm's 50-day simple moving average is $46.33 and its 200 day simple moving average is $41.96. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The company has a market cap of $41.52 billion, a price-to-earnings ratio of 285.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. On average, research analysts expect that Corning will post 1.95 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is currently 658.82%.

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.