Media coverage about Corning (NYSE:GLW) has been trending somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Corning earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave media headlines about the electronics maker an impact score of 46.4635604807165 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the media headlines that may have impacted Accern’s rankings:
- Turning Focus Towards Range Resources Corporation (RRC) and Corning Incorporated (GLW) Technicals – Market Movers (financialqz.com)
- Do What Institutional Investors Does: Range Resources Corporation (RRC), Corning Incorporated (GLW) – Market Movers (financialqz.com)
- Why Corning's Stock Soared More Than 30% in 2017 (finance.yahoo.com)
- Corning (GLW) Scheduled to Post Earnings on Monday (americanbankingnews.com)
A number of analysts have recently commented on GLW shares. Oppenheimer reiterated a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Citigroup boosted their price target on Corning from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Guggenheim reissued a “buy” rating and set a $35.00 price target on shares of Corning in a research report on Thursday, September 21st. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research downgraded Corning from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.48.
Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Corning had a return on equity of 11.53% and a net margin of 24.98%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the business posted $0.42 earnings per share. Corning’s quarterly revenue was up 4.0% on a year-over-year basis. sell-side analysts anticipate that Corning will post 1.7 earnings per share for the current year.
In other news, VP Eric S. Musser sold 29,949 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $31.56, for a total value of $945,190.44. Following the completion of the sale, the vice president now directly owns 49,471 shares in the company, valued at approximately $1,561,304.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Deborah Rieman sold 2,083 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $32.16, for a total value of $66,989.28. Following the completion of the sale, the director now owns 102,896 shares of the company’s stock, valued at $3,309,135.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,320 shares of company stock valued at $10,996,824. Company insiders own 0.59% of the company’s stock.
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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