Corning Coverage Initiated at JPMorgan Chase & Co. (GLW)
Research analysts at JPMorgan Chase & Co. assumed coverage on shares of Corning (NYSE:GLW) in a report released on Wednesday, Analyst Ratings Net reports. The firm set a “neutral” rating on the stock.
GLW has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. initiated coverage on shares of Corning in a research note to investors on Tuesday, December 10th. They set a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Corning in a research note to investors on Thursday, October 31st. They now have a $18.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Corning from $20.00 to $22.00 in a research note to investors on Thursday, October 31st. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.29.
Corning (NYSE:GLW) opened at 18.76 on Wednesday. Corning has a 52-week low of $11.75 and a 52-week high of $18.90. The stock’s 50-day moving average is $17.62 and its 200-day moving average is $15.91. The company has a market cap of $27.149 billion and a price-to-earnings ratio of 15.55.
Corning (NYSE:GLW) last announced its earnings results on Wednesday, October 30th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.01. The company had revenue of $2.10 million for the quarter, compared to the consensus estimate of $2.09 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Corning will post $1.22 EPS for the current fiscal year.
Corning Incorporated (NYSE:GLW) is a global, technology-based corporation.
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