Corning (NYSE:GLW - Get Free Report) updated its first quarter 2025 earnings guidance on Thursday. The company provided earnings per share guidance of 0.520-0.520 for the period, compared to the consensus earnings per share estimate of 0.500. The company issued revenue guidance of $3.6 billion-, compared to the consensus revenue estimate of $3.6 billion.
Corning Stock Performance
Shares of NYSE GLW traded up $1.35 during mid-day trading on Monday, hitting $49.88. The company had a trading volume of 5,164,429 shares, compared to its average volume of 5,496,311. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Corning has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a market capitalization of $42.72 billion, a price-to-earnings ratio of 85.99, a P/E/G ratio of 1.50 and a beta of 1.03. The stock's 50-day moving average price is $49.98 and its 200-day moving average price is $47.78.
Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, sell-side analysts forecast that Corning will post 2.33 earnings per share for the current year.
Corning Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, February 28th. Corning's payout ratio is 193.10%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Hsbc Global Res upgraded Corning from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 30th. Citigroup raised their price target on Corning from $55.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Bank of America lifted their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. StockNews.com lowered Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley boosted their target price on Corning from $39.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $54.31.
Get Our Latest Stock Analysis on Corning
Insider Activity at Corning
In other news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares of the company's stock, valued at approximately $7,940,852.48. The trade was a 16.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Corning stock. Brighton Jones LLC lifted its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 46.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,705 shares of the electronics maker's stock after purchasing an additional 2,114 shares during the quarter. Brighton Jones LLC's holdings in Corning were worth $319,000 as of its most recent filing with the Securities & Exchange Commission. 69.80% of the stock is currently owned by institutional investors and hedge funds.
About Corning
(
Get Free Report)
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.
See Also
Before you consider Corning, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corning wasn't on the list.
While Corning currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
