Corning (GLW) Scheduled to Post Earnings on Tuesday

Corning (NYSE:GLW) is scheduled to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Corning to post earnings of $0.36 per share for the quarter. Corning has set its Q1 guidance at $0.32-0.38 EPS and its Q1 2024 guidance at 0.320-0.380 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Corning had a net margin of 4.62% and a return on equity of 12.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business posted $0.47 EPS. The firm’s revenue was down 12.1% compared to the same quarter last year. On average, analysts expect Corning to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Corning Trading Up 0.9 %

NYSE:GLW opened at $31.56 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. Corning has a 52 week low of $25.26 and a 52 week high of $36.01. The firm has a market capitalization of $26.99 billion, a P/E ratio of 47.10, a P/E/G ratio of 1.73 and a beta of 1.08. The company has a fifty day moving average of $32.30 and a 200 day moving average of $30.41.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 3.55%. Corning’s dividend payout ratio (DPR) is presently 167.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. StockNews.com upgraded shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Corning in a research note on Monday, April 1st. JPMorgan Chase & Co. increased their price target on shares of Corning from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Barclays increased their price objective on shares of Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, UBS Group increased their price objective on shares of Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $34.78.

Insider Activity

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the sale, the insider now owns 215,254 shares of the company’s stock, valued at approximately $7,155,042.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.