FY2024 EPS Estimates for Corning Increased by Zacks Research

Corning Incorporated (NYSE:GLW) – Zacks Research boosted their FY2024 earnings per share estimates for Corning in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the electronics maker will post earnings of $1.93 per share for the year, up from their prior forecast of $1.90. The consensus estimate for Corning’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for Corning’s Q2 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.60 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.63 EPS and Q3 2026 earnings at $0.70 EPS.

GLW has been the subject of a number of other reports. Mizuho raised Corning from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $44.00 to $47.00 in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley restated an “equal weight” rating and issued a $39.00 price objective on shares of Corning in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Susquehanna boosted their price objective on Corning from $46.00 to $55.00 and gave the company a “positive” rating in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Corning Trading Up 1.3 %

Shares of NYSE:GLW opened at $47.97 on Thursday. Corning has a 12-month low of $27.57 and a 12-month high of $51.03. The company has a market capitalization of $41.07 billion, a PE ratio of 282.15, a PEG ratio of 1.51 and a beta of 1.03. The business has a 50 day moving average of $46.21 and a two-hundred day moving average of $41.86. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $0.45 earnings per share. Corning’s revenue for the quarter was up 6.9% on a year-over-year basis.

Institutional Trading of Corning

Several large investors have recently made changes to their positions in GLW. City Holding Co. grew its holdings in Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after buying an additional 600 shares in the last quarter. Cassady Schiller Wealth Management LLC purchased a new stake in Corning in the 3rd quarter valued at $39,000. RPg Family Wealth Advisory LLC purchased a new stake in Corning in the 3rd quarter valued at $40,000. Global Trust Asset Management LLC grew its holdings in Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after buying an additional 900 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Corning by 90.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 994 shares of the electronics maker’s stock valued at $45,000 after buying an additional 473 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, November 15th. Corning’s payout ratio is 658.82%.

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.