Zacks Research Has Optimistic Outlook of Corning Q4 Earnings

Corning Incorporated (NYSE:GLW) – Analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for Corning in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the electronics maker will post earnings per share of $0.54 for the quarter, up from their previous forecast of $0.52. The consensus estimate for Corning’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for Corning’s Q3 2025 earnings at $0.61 EPS and FY2026 earnings at $2.62 EPS.

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

A number of other equities analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of Corning from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price target on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays increased their target price on Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Corning Price Performance

Shares of GLW opened at $48.50 on Friday. The firm has a 50-day simple moving average of $46.33 and a two-hundred day simple moving average of $41.96. The stock has a market cap of $41.52 billion, a PE ratio of 285.26, a P/E/G ratio of 1.51 and a beta of 1.03. Corning has a 1-year low of $27.57 and a 1-year high of $51.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05.

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 paid a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%. Corning’s dividend payout ratio is currently 658.82%.

Insiders Place Their Bets

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Several institutional investors have recently added to or reduced their stakes in GLW. Price T Rowe Associates Inc. MD lifted its position in Corning by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after acquiring an additional 4,464,893 shares during the last quarter. FMR LLC increased its position in shares of Corning by 52.8% during the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after purchasing an additional 1,285,836 shares in the last quarter. State Street Corp lifted its holdings in shares of Corning by 3.8% in the 3rd quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock valued at $1,534,337,000 after purchasing an additional 1,242,718 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Corning by 215.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock valued at $75,740,000 after purchasing an additional 1,145,955 shares during the period. Finally, Pathway Financial Advisers LLC grew its stake in Corning by 4,306.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock worth $47,428,000 after buying an additional 1,026,626 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Corning

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.