Media headlines about Corning (NYSE:GLW) have trended somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of 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 0.22 on Accern’s scale. Accern also assigned news stories about the electronics maker an impact score of 46.9030466174146 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Corning: Uncertainty Created The Drop And An Opportunity - Seeking Alpha (seekingalpha.com)
- Corning Incorporated (GLW) Ownership Up in Latest Report from Schwab Charles Investment Management Inc - First News 24 (firstnewspaper24.com)
- Corning Incorporated (GLW) noted a price change of 1.30% and FNB Corporation (FNB) closes with a move of 0.88% - Stocks Gallery (stocksgallery.com)
- Is Corning, Inc. The Perfect Stock? (seekingalpha.com)
- Good Life Advisors LLC Raises Stake in Corning Incorporated (NYSE:GLW) (campdesrecrues.com)
GLW has been the subject of a number of analyst reports. Zacks Investment Research cut Corning from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $29.00 price target (up previously from $26.00) on shares of Corning in a report on Monday, June 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $26.00 price target on shares of Corning in a report on Wednesday, April 12th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $33.00 price target (up previously from $32.00) on shares of Corning in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.81.
Corning (GLW) traded up 0.10% during midday trading on Friday, hitting $29.31. The stock had a trading volume of 1,499,036 shares. The stock has a 50-day moving average price of $30.34 and a 200 day moving average price of $28.34. Corning has a 12-month low of $22.07 and a 12-month high of $32.17. The firm has a market cap of $26.47 billion, a P/E ratio of 13.09 and a beta of 1.40.
Corning (NYSE:GLW) last released its earnings results on Wednesday, July 26th. The electronics maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Corning had a net margin of 24.16% and a return on equity of 11.67%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Corning will post $1.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio is presently 27.93%.
In related news, insider James P. Clappin sold 106,983 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $29.25, for a total transaction of $3,129,252.75. Following the completion of the sale, the insider now directly owns 91,552 shares of the company’s stock, valued at $2,677,896. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lewis A. Steverson sold 30,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $29.00, for a total transaction of $870,000.00. Following the sale, the insider now directly owns 3,859 shares of the company’s stock, valued at $111,911. The disclosure for this sale can be found here. Over the last three months, insiders have sold 393,122 shares of company stock valued at $11,547,457. Company insiders own 0.59% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://stocknewstimes.com/2017/08/04/somewhat-positive-news-coverage-somewhat-unlikely-to-impact-corning-glw-share-price-updated.html.
About Corning
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).
Receive News & Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
