FY2024 EPS Estimates for Corning Increased by Zacks Research

Corning Incorporated (NYSE:GLW - Free Report) - Equities researchers at Zacks Research boosted their FY2024 earnings per share estimates for Corning in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the electronics maker will post earnings of $1.93 per share for the year, up from their prior forecast of $1.90. The consensus estimate for Corning's current full-year earnings is $1.95 per share. Zacks Research also issued estimates for Corning's Q2 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.60 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.63 EPS and Q3 2026 earnings at $0.70 EPS.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The business's revenue for the quarter was up 6.9% compared to the same quarter last year.

Several other brokerages also recently issued reports on GLW. Bank of America boosted their target price on shares of Corning from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, September 20th. Barclays upped their price target on Corning from $40.00 to $53.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Morgan Stanley restated an "equal weight" rating and set a $39.00 price objective on shares of Corning in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on Corning from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.08.

Corning Stock Up 0.1 %

GLW stock opened at $47.35 on Thursday. The company's 50 day simple moving average is $46.08 and its 200-day simple moving average is $41.81. Corning has a 52-week low of $27.57 and a 52-week high of $51.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $40.54 billion, a P/E ratio of 278.53, a P/E/G ratio of 1.51 and a beta of 1.03.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, November 15th. Corning's payout ratio is 658.82%.

Institutional Trading of Corning

Institutional investors and hedge funds have recently made changes to their positions in the stock. City Holding Co. raised its stake in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker's stock valued at $32,000 after acquiring an additional 600 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Corning in the second quarter valued at approximately $39,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Corning in the third quarter worth $39,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Corning during the 3rd quarter worth $40,000. Finally, Global Trust Asset Management LLC grew its stake in Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker's stock valued at $42,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

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.

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