Corning Given Average Recommendation of “Hold” by Analysts (NYSE:GLW)
Corning (NYSE:GLW) has been given an average recommendation of “Hold” by the twenty analysts that are presently covering the stock, American Banking News.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.86.
In other Corning news, VP Kirk P. Gregg sold 41,000 shares of Corning stock on the open market in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $19.89, for a total transaction of $815,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Cantor Fitzgerald cut their price target on shares of Corning from $19.00 to $18.00 in a research note on Thursday, July 31st. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Corning in a research note on Wednesday, July 30th. They now have a $24.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Corning in a research note on Wednesday, July 30th. They now have a $21.00 price target on the stock, down previously from $23.00.
Corning (NYSE:GLW) opened at 19.94 on Tuesday. Corning has a 52-week low of $13.82 and a 52-week high of $22.37. The stock’s 50-day moving average is $21.41 and its 200-day moving average is $20.43. The company has a market cap of $25.743 billion and a P/E ratio of 21.70.
Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts predict that Corning will post $1.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, August 27th.
Corning Incorporated (NYSE:GLW), is a global, technology-based corporation.
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