Corning (NYSE:GLW)‘s stock had its “outperform” rating reissued by stock analysts at RBC Capital in a report issued on Friday 17 July, Marketbeat reports.
They currently have a $26.00 price target on the glassware maker’s stock. RBC Capital’s target price suggests a potential upside of 36.27% from the stock’s previous close.
Corning shares opened at 19.08 on Friday. Corning has a 52 week low of $17.03 and a 52 week high of $25.16. The stock’s 50-day moving average is $20.25 and its 200-day moving average is $22.30. The company has a market cap of $24.01 billion and a price-to-earnings ratio of 10.50.
Corning last posted its quarterly earnings results on Tuesday, April 28th. The glassware maker reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.02. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter last year, the company posted $0.31 earnings per share. Corning’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Corning will post $1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, August 27th.
Several other analysts have also recently commented on the stock. Analysts at Vetr downgraded shares of Corning from a “strong-buy” rating to a “buy” rating and set a $21.82 price target on the stock in a research note on Thursday. Analysts at Zacks downgraded shares of Corning from a “hold” rating to a “sell” rating in a research note on Tuesday. Analysts at Bank of America downgraded shares of Corning from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $25.00 to $16.00 in a research note on Monday, July 13th.
Analysts at Barclays reiterated an “overweight” rating and set a $26.00 price target on shares of Corning in a research note on Thursday, July 2nd. Finally, analysts at Oppenheimer reiterated a “market perform” rating on shares of Corning in a research note on Friday, June 26th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.36.