Brokerages expect Corning Incorporated (NYSE:GLW) to report $0.47 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Corning’s earnings. The lowest EPS estimate is $0.45 and the highest is $0.48. Corning posted earnings of $0.50 per share during the same quarter last year, which indicates a negative year over year growth rate of 6%. The firm is scheduled to report its next earnings report on Tuesday, January 23rd.

On average, analysts expect that Corning will report full-year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.71. For the next year, analysts anticipate that the company will report earnings of $1.74 per share, with EPS estimates ranging from $1.46 to $1.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Corning.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Corning had a net margin of 24.98% and a return on equity of 11.53%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS.

Several analysts have recently commented on the stock. Deutsche Bank upped their price objective on shares of Corning from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Oppenheimer reaffirmed a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Guggenheim reissued a “buy” rating and set a $35.00 price target on shares of Corning in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Corning from a “strong sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Citigroup increased their price target on shares of Corning from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Corning presently has a consensus rating of “Hold” and an average target price of $29.28.

Shares of Corning (GLW) opened at $31.73 on Friday. The company has a market cap of $27,690.00, a price-to-earnings ratio of 18.53, a PEG ratio of 2.68 and a beta of 1.33. The company has a quick ratio of 2.14, a current ratio of 2.69 and a debt-to-equity ratio of 0.26. Corning has a twelve month low of $24.12 and a twelve month high of $32.78.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, November 15th. Corning’s dividend payout ratio (DPR) is presently 26.38%.

In other Corning news, insider Mark S. Rogus sold 9,242 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $32.12, for a total transaction of $296,853.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Eric S. Musser sold 29,949 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $31.56, for a total transaction of $945,190.44. Following the transaction, the vice president now directly owns 49,471 shares in the company, valued at $1,561,304.76. The disclosure for this sale can be found here. Insiders have sold 294,561 shares of company stock worth $9,254,498 over the last three months. 0.59% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Andra AP fonden lifted its holdings in Corning by 3.4% during the second quarter. Andra AP fonden now owns 166,100 shares of the electronics maker’s stock valued at $4,991,000 after purchasing an additional 5,500 shares in the last quarter. Legal & General Group Plc lifted its holdings in Corning by 2.9% during the second quarter. Legal & General Group Plc now owns 5,063,968 shares of the electronics maker’s stock valued at $152,175,000 after purchasing an additional 144,400 shares in the last quarter. Convergence Investment Partners LLC lifted its holdings in Corning by 21.1% during the second quarter. Convergence Investment Partners LLC now owns 101,315 shares of the electronics maker’s stock valued at $3,045,000 after purchasing an additional 17,670 shares in the last quarter. BB&T Securities LLC lifted its holdings in Corning by 33.6% during the second quarter. BB&T Securities LLC now owns 135,775 shares of the electronics maker’s stock valued at $4,080,000 after purchasing an additional 34,132 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in Corning by 0.4% during the second quarter. Wedbush Securities Inc. now owns 10,567 shares of the electronics maker’s stock valued at $318,000 after purchasing an additional 41 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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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).

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Earnings History and Estimates for Corning (NYSE:GLW)

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