Shares of Corning Incorporated (NYSE:GLW) have been given a consensus recommendation of “Hold” by the seventeen research firms that are presently covering the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $26.29.

A number of equities research analysts recently commented on GLW shares. Drexel Hamilton reaffirmed a “sell” rating and issued a $14.50 price target on shares of Corning in a report on Tuesday, October 25th. Deutsche Bank AG lifted their price target on shares of Corning from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, October 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $27.00 price target on shares of Corning in a report on Wednesday, November 2nd. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Finally, Vetr raised shares of Corning from a “sell” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, November 15th.

“Corning Incorporated (GLW) Receives Average Recommendation of “Hold” from Brokerages” was posted by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/02/17/corning-incorporated-glw-receives-average-recommendation-of-hold-from-brokerages.html.

This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/02/17/corning-incorporated-glw-receives-average-recommendation-of-hold-from-brokerages.html

Shares of Corning (NYSE:GLW) traded down 0.4818% during midday trading on Friday, hitting $27.5765. The company’s stock had a trading volume of 2,232,999 shares. The stock’s 50 day moving average is $25.67 and its 200-day moving average is $23.91. The firm has a market cap of $25.59 billion, a P/E ratio of 8.5376 and a beta of 1.36. Corning has a 52-week low of $17.69 and a 52-week high of $27.88.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, January 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Corning had a return on equity of 10.90% and a net margin of 39.35%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Corning will post $1.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.155 per share. This is a boost from Corning’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, February 24th. This represents a $0.62 dividend on an annualized basis and a yield of 2.24%. Corning’s payout ratio is presently 16.67%.

In other Corning news, VP Eric S. Musser sold 36,000 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $26.50, for a total transaction of $954,000.00. Following the sale, the vice president now owns 47,076 shares of the company’s stock, valued at approximately $1,247,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Clappin sold 94,303 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $24.01, for a total transaction of $2,264,215.03. Following the sale, the insider now directly owns 81,255 shares in the company, valued at approximately $1,950,932.55. The disclosure for this sale can be found here. Insiders have sold a total of 542,876 shares of company stock worth $13,990,430 in the last three months. Insiders own 0.60% of the company’s stock.

A number of large investors have recently modified their holdings of GLW. BKS Advisors LLC acquired a new stake in shares of Corning during the third quarter worth about $103,000. Wall Street Access Asset Management LLC acquired a new stake in shares of Corning during the fourth quarter worth about $109,000. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Corning during the third quarter worth about $111,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corning during the fourth quarter worth about $166,000. Finally, SRB Corp acquired a new stake in shares of Corning during the third quarter worth about $170,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products.

5 Day Chart for NYSE:GLW

Receive News & Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.