Zacks Research Comments on Corning's Q4 Earnings (NYSE:GLW)

Corning Incorporated (NYSE:GLW - Free Report) - Equities research analysts at Zacks Research lifted their Q4 2024 earnings estimates for shares of Corning in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the electronics maker will earn $0.54 per share for the quarter, up from their previous forecast of $0.52. The consensus estimate for Corning's current full-year earnings is $1.95 per share. Zacks Research also issued estimates for Corning's Q3 2025 earnings at $0.61 EPS and FY2026 earnings at $2.62 EPS.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.45 EPS.

Several other research firms have also recently weighed in on GLW. UBS Group increased their price target on shares of Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Barclays increased their price objective on shares of Corning from $40.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. StockNews.com raised shares of Corning from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Mizuho raised shares of Corning from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $44.00 to $47.00 in a research report on Wednesday, August 21st. Finally, Bank of America increased their price objective on shares of Corning from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Corning presently has an average rating of "Moderate Buy" and a consensus target price of $50.08.

Corning Trading Up 1.4 %

Shares of Corning stock traded up $0.68 during mid-day trading on Friday, hitting $48.52. The stock had a trading volume of 3,172,915 shares, compared to its average volume of 5,644,595. The firm has a 50-day moving average of $46.21 and a two-hundred day moving average of $41.86. Corning has a 12-month low of $27.57 and a 12-month high of $51.03. 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 firm has a market cap of $41.54 billion, a P/E ratio of 282.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently bought and sold shares of GLW. Price T Rowe Associates Inc. MD raised its stake in Corning by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker's stock worth $566,941,000 after acquiring an additional 4,464,893 shares in the last quarter. FMR LLC raised its stake in Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker's stock worth $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. State Street Corp raised its stake in Corning by 3.8% during the 3rd quarter. State Street Corp now owns 33,983,090 shares of the electronics maker's stock worth $1,534,337,000 after acquiring an additional 1,242,718 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Corning by 215.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker's stock worth $75,740,000 after acquiring an additional 1,145,955 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in Corning by 4,306.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker's stock worth $47,428,000 after acquiring an additional 1,026,626 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. This trade represents 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 link. Company insiders own 0.40% of the company's stock.

Corning Announces Dividend

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