News coverage about Corning (NYSE:GLW) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative 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 nearest to one being the most favorable. Corning earned a news impact score of 0.22 on Accern’s scale. Accern also assigned media coverage about the electronics maker an impact score of 46.9030466174146 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- Corning Incorporated (GLW) Downgraded by BidaskClub to “Hold” (americanbankingnews.com)
- Cookson Peirce & Co Inc Bought A Little More Corning Incorporated (GLW) Stock In The Last Quarter - Modern Readers (modernreaders.com)
- Corning Incorporated (GLW) is standing at value of $27.87 with the falling stream of -2.04% - Stocks Gallery (stocksgallery.com)
- Trump shuts down council after slew of CEOs quit (finance.yahoo.com)
- Corning Incorporated : Optical Communications Receives AT&T 2016 Supplier Diversity Crystal Award (4-traders.com)
Shares of Corning (GLW) traded up 0.04% during mid-day trading on Friday, reaching $27.88. 5,178,017 shares of the company’s stock were exchanged. The firm has a market capitalization of $25.18 billion, a P/E ratio of 12.45 and a beta of 1.40. Corning has a one year low of $22.14 and a one year high of $32.17. The stock has a 50-day moving average of $30.00 and a 200 day moving average of $28.60.
Corning (NYSE:GLW) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Corning had a return on equity of 11.67% and a net margin of 24.16%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that Corning will post $1.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio is presently 27.93%.
A number of equities analysts recently commented on the stock. BidaskClub lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday. Guggenheim restated a “buy” rating and issued a $35.00 price target on shares of Corning in a research note on Tuesday. Susquehanna Bancshares Inc restated a “positive” rating on shares of Corning in a research note on Thursday, July 13th. Goldman Sachs Group, Inc. (The) downgraded shares of Corning from a “neutral” rating to a “sell” rating and reduced their price target for the company from $29.00 to $26.00 in a research note on Tuesday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $29.50 price target on shares of Corning in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Corning has an average rating of “Hold” and a consensus price target of $28.08.
In related news, insider James P. Clappin sold 106,983 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $29.25, for a total transaction of $3,129,252.75. Following 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 153,500 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.58, for a total value of $4,540,530.00. Following the sale, the chief executive officer now directly owns 76,750 shares in the company, valued at $2,270,265. The disclosure for this sale can be found here. Insiders sold 357,700 shares of company stock worth $10,519,405 over the last three months. Corporate 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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