News articles about Corning (NYSE:GLW) have been trending somewhat positive this week, according to Accern. Accern ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Corning earned a daily sentiment score of 0.23 on Accern’s scale. Accern also assigned news articles about the electronics maker an impact score of 45.7130198019228 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Verizon No Longer Interested in Buying a Cable Operator, CEO Says (thestreet.com)
- Stock in Focus: Checking the Numbers for Corning Inc (GLW) – MTNV (mtnvnews.com)
- Corning Set for Pressured Margins (msn.com)
- Corning Incorporated (GLW) VP Sells $942480.00 in Stock (fishinghd.com)
- Poor future performance Ahead on Corning Incorporated (GLW) – Street Observer (press release) (streetobserver.com)
A number of research analysts have commented on the stock. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $29.00 price target (up from $26.00) on shares of Corning in a research report on Monday, June 19th. BidaskClub cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Jefferies Group LLC reiterated a “hold” rating and set a $27.50 price target on shares of Corning in a research report on Friday, July 14th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.21.
Shares of Corning (NYSE:GLW) traded up 0.34% during mid-day trading on Friday, reaching $29.35. The company had a trading volume of 7,749,101 shares. The firm has a 50-day moving average price of $28.86 and a 200-day moving average price of $28.83. Corning has a 1-year low of $22.23 and a 1-year high of $32.17. The stock has a market capitalization of $26.51 billion, a price-to-earnings ratio of 13.11 and a beta of 1.40.
Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. Corning’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. Equities analysts expect that Corning will post $1.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.11%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio (DPR) is presently 27.93%.
In other Corning news, insider Clark S. Kinlin sold 46,763 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $28.53, for a total value of $1,334,148.39. Following the transaction, the insider now owns 72,039 shares of the company’s stock, valued at approximately $2,055,272.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christine M. Pambianchi sold 33,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $28.56, for a total value of $942,480.00. Following the completion of the transaction, the vice president now directly owns 73,145 shares in the company, valued at approximately $2,089,021.20. The disclosure for this sale can be found here. Insiders sold a total of 127,888 shares of company stock worth $3,653,485 in the last ninety days. 0.59% of the stock is currently owned by corporate insiders.
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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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