Corning’s “Neutral” Rating Reaffirmed at Goldman Sachs Group Inc. (GLW)
Corning (NYSE:GLW)‘s stock had its “neutral” rating reiterated by research analysts at Goldman Sachs Group Inc. in a report released on Monday, Analyst Ratings Network.com reports.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch raised their price target on shares of Corning from $22.00 to $24.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Corning in a research note to investors on Wednesday, January 22nd. They set a “neutral” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Corning presently has an average rating of “Hold” and an average target price of $17.86.
Shares of Corning (NYSE:GLW) traded up 0.05% during mid-day trading on Monday, hitting $18.22. The stock had a trading volume of 20,668,404 shares. Corning has a one year low of $11.75 and a one year high of $19.12. The stock’s 50-day moving average is $17.80 and its 200-day moving average is $15.9. The company has a market cap of $26.368 billion and a price-to-earnings ratio of 15.09. Corning also was the target of some unusual options trading on Monday. Traders bought 25,963 put options on the company. This is an increase of approximately 414% compared to the average volume of 5,050 put options.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.