Investors Buy Large Volume of Call Options on Corning (GLW)
Shares of Corning (NYSE:GLW) was the target of some unusual options trading activity on Thursday. Investors acquired 19,680 call options on the company, AnalystRatingsNetwork.com reports. This represents an increase of 274% compared to the typical daily volume of 5,257 call options.
GLW has been the subject of a number of recent research reports. Analysts at UBS AG initiated coverage on shares of Corning (NYSE:GLW) in a research note to investors on Monday. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Gilford Securities initiated coverage on shares of Corning (NYSE:GLW) in a research note to investors on Monday. They set a “buy” rating and a $20.00 price target on the stock. Finally, analysts at Cantor Fitzgerald initiated coverage on shares of Corning (NYSE:GLW) in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $14.50 price target on the stock. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.50.
Shares of Corning (NYSE:GLW) traded up 0.13% during mid-day trading on Thursday, hitting $14.94. The stock had a trading volume of 10,756,096 shares. Corning has a one year low of $10.71 and a one year high of $16.43. The stock’s 50-day moving average is $14.69 and its 200-day moving average is $14.49. The company has a market cap of $21.818 billion and a P/E ratio of 11.58.
Corning (NYSE:GLW) last released its earnings data on Tuesday, July 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that Corning will post $1.27 earnings per share for the current fiscal year.
Corning Incorporated (NYSE:GLW) is a global, technology-based corporation.
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