Headlines about Corning (NYSE:GLW) have been trending somewhat positive on Monday, Accern reports. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Corning earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave news coverage about the electronics maker an impact score of 46.1314891198591 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern’s analysis:
- Corning Incorporated, (NYSE: GLW) – Comprehensive Stock Analysis – Stock Watch (stocksnewstimes.com)
- Corning TXF(TM) Optical Fiber Advances Next Generation Long-Haul Networks (finance.yahoo.com)
- Cramer’s lightning round: Freeport-McMoRan is a nice hedge on this market (finance.yahoo.com)
- Analysts suggested mean rating score of 2.40 for Corning Incorporated (GLW) – Wall Street Morning (wallstreetmorning.com)
- Beta Factor under Consideration – Corning Incorporated, (NYSE: GLW) – Stock Watch (stocksnewstimes.com)
A number of analysts recently issued reports on the stock. Guggenheim restated a “buy” rating and set a $35.00 target price on shares of Corning in a research report on Tuesday, December 12th. Citigroup decreased their target price on shares of Corning from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. TheStreet lowered shares of Corning from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Corning currently has a consensus rating of “Hold” and an average target price of $31.22.
Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.65 billion. Corning had a negative net margin of 4.91% and a positive return on equity of 11.63%. Corning’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. research analysts anticipate that Corning will post 1.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Tuesday, February 27th. This is an increase from Corning’s previous quarterly dividend of $0.16. Corning’s dividend payout ratio (DPR) is currently -105.88%.
In other Corning news, Director John A. Canning, Jr. bought 30,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $29.60 per share, with a total value of $888,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the completion of the transaction, the insider now directly owns 136,032 shares in the company, valued at approximately $4,410,157.44. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
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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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