Shares of Corning Incorporated (NYSE:GLW) have received a consensus rating of “Hold” from the eighteen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.90.

GLW has been the subject of several research analyst reports. Vetr raised shares of Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target for the company in a research note on Tuesday, July 4th. BidaskClub raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Drexel Hamilton reaffirmed a “sell” rating and set a $17.50 price target on shares of Corning in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Corning in a research note on Thursday, July 27th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $35.00 price target on shares of Corning in a research note on Thursday, August 24th.

In related news, insider Clark S. Kinlin sold 46,763 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $28.53, for a total value of $1,334,148.39. Following the completion of the transaction, the insider now owns 72,039 shares of the company’s stock, valued at $2,055,272.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the transaction, the insider now directly owns 136,079 shares of the company’s stock, valued at approximately $3,893,220.19. The disclosure for this sale can be found here. Insiders sold 127,888 shares of company stock valued at $3,653,485 in the last three months. 0.59% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Corning by 1,930.0% in the first quarter. BlackRock Inc. now owns 56,841,179 shares of the electronics maker’s stock worth $1,534,712,000 after purchasing an additional 54,041,176 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Corning by 4,900.2% in the second quarter. Janus Henderson Group PLC now owns 5,881,755 shares of the electronics maker’s stock worth $176,747,000 after purchasing an additional 5,764,125 shares during the last quarter. Janus Capital Management LLC grew its holdings in Corning by 60.3% in the first quarter. Janus Capital Management LLC now owns 5,657,868 shares of the electronics maker’s stock worth $152,763,000 after purchasing an additional 2,127,260 shares during the last quarter. Gotham Asset Management LLC grew its holdings in Corning by 17,844.0% in the first quarter. Gotham Asset Management LLC now owns 1,717,781 shares of the electronics maker’s stock worth $46,380,000 after purchasing an additional 1,708,208 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Corning by 62.2% in the second quarter. Parametric Portfolio Associates LLC now owns 4,313,266 shares of the electronics maker’s stock worth $129,614,000 after purchasing an additional 1,654,301 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

Corning (NYSE:GLW) opened at 30.03 on Wednesday. The firm’s 50 day moving average price is $29.40 and its 200-day moving average price is $29.16. Corning has a 12-month low of $22.23 and a 12-month high of $32.17. The stock has a market cap of $27.12 billion, a P/E ratio of 13.41 and a beta of 1.38.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Corning had a net margin of 24.16% and a return on equity of 11.67%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Corning will post $1.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, November 15th. Corning’s dividend payout ratio (DPR) is 27.93%.

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Corning Company Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Analyst Recommendations for Corning (NYSE:GLW)

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