Corning (GLW) Set to Announce Quarterly Earnings on Tuesday

Corning (NYSE:GLW - Get Free Report) will be releasing its earnings data before the market opens on Tuesday, October 29th. Analysts expect Corning to post earnings of $0.52 per share for the quarter. Corning has set its Q3 2024 guidance at 0.500-0.540 EPS and its Q3 guidance at $0.50-0.54 EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.55 billion. Corning had a return on equity of 12.69% and a net margin of 3.53%. The firm's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Corning Stock Performance

NYSE GLW traded up $0.28 during trading on Tuesday, hitting $47.31. The company's stock had a trading volume of 4,273,379 shares, compared to its average volume of 5,720,587. Corning has a 52 week low of $25.26 and a 52 week high of $47.45. The firm has a market cap of $40.53 billion, a P/E ratio of 66.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The firm has a 50 day moving average price of $43.46 and a 200 day moving average price of $39.58. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 2.37%. Corning's payout ratio is 157.75%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GLW shares. Mizuho raised shares of Corning from a "neutral" rating to an "outperform" rating and increased their price target for the company from $44.00 to $47.00 in a report on Wednesday, August 21st. Bank of America increased their price objective 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. Hsbc Global Res upgraded shares of Corning from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, July 9th. Barclays increased their price target on shares of Corning from $36.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Finally, Argus lifted their price objective on Corning from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.23.

About Corning

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.