Corning Price Target Increased to $19.00 by Analysts at Cantor Fitzgerald (GLW)
Equities researchers at Cantor Fitzgerald increased their price target on shares of Corning (NYSE:GLW) from $18.00 to $19.00 in a research report issued on Monday, Analyst RN reports. Cantor Fitzgerald’s price target points to a potential downside of 9.39% from the stock’s previous close.
Corning (NYSE:GLW) traded up 1.11% during mid-day trading on Monday, hitting $20.97. The stock had a trading volume of 17,078,012 shares. Corning has a one year low of $13.82 and a one year high of $21.77. The stock has a 50-day moving average of $20.36 and a 200-day moving average of $18.24. The company has a market cap of $29.193 billion and a P/E ratio of 15.48. Corning also saw some unusual options trading on Friday. Stock traders bought 33,197 put options on the stock. This is an increase of 266% compared to the typical daily volume of 9,078 put options.
Corning (NYSE:GLW) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.01. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company posted $0.30 earnings per share. Corning’s revenue was up 31.7% compared to the same quarter last year. On average, analysts predict that Corning will post $1.47 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on GLW. Analysts at Susquehanna raised their price target on shares of Corning from $25.00 to $26.00 in a research note on Monday. Separately, analysts at Jefferies Group cut their price target on shares of Corning to $17.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. They now have a $20.00 price target on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.71.
Corning Incorporated (NYSE:GLW) is a global, technology-based corporation.
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