Research analysts and brokerages covering Corning have given the company’s shares an average rating of “Hold”. Corning last posted its quarterly earnings results on 28 April. The company reported USD 0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of USD 0.30 by USD 0.01.
Shares of Corning have been given an average rating of “Hold” by the brokerages that are covering the company. One research analyst has rated the stock with a sell recommendation, 12 have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is USD 20.64.
Corning has a 52-week low of USD 13.82 and a 52-week high of USD 22.20. The stock has a 50-day moving average of USD 21.27 and a 200-day moving average of USD 19.63. The company has a market cap of USD 28.525 billion and a price-to-earnings ratio of 17.89. Corning also saw a large drop in short interest during the month of May. As of 30 May, there was short interest totalling 24,486,161 shares, a drop of 19.4% from the 15 May total of 30,372,161 shares. Based on an average daily volume of 7,739,645 shares, the short-interest ratio is presently 3.2 days. Currently, 1.9% of the company’s shares are sold short.
Corning last posted its quarterly earnings results on 28 April. The company reported USD 0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of USD 0.30 by USD 0.01. The company had revenue of USD 2.40 billion for the quarter, compared to the consensus estimate of USD 2.30 billion. During the same quarter last year, the company posted USD 0.30 earnings per share. Corning’s revenue was up 31.7% compared to the same quarter last year. On average, analysts predict that Corning will post USD 1.50 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on GLW shares. Analysts at Argus raised their price target on shares of Corning from USD 24.00 to USD 27.00 and now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Corning from USD 26.00 to USD 27.00, while analysts at Zacks reiterated a “neutral” rating on shares of Corning and now have a USD 23.00 price target on the stock.