Zacks Research Brokers Lower Earnings Estimates for Corning

Corning Incorporated (NYSE:GLW) – Analysts at Zacks Research reduced their Q4 2024 EPS estimates for Corning in a research report issued to clients and investors on Wednesday, October 23rd. Zacks Research analyst R. Department now anticipates that the electronics maker will post earnings of $0.52 per share for the quarter, down from their previous forecast of $0.53. The consensus estimate for Corning’s current full-year earnings is $1.91 per share. Zacks Research also issued estimates for Corning’s Q3 2026 earnings at $0.75 EPS and FY2026 earnings at $2.60 EPS.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.55 billion. Corning had a net margin of 3.53% and a return on equity of 12.69%. Corning’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS.

GLW has been the subject of several other reports. Deutsche Bank Aktiengesellschaft boosted their price target on Corning from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Mizuho upgraded shares of Corning from a “neutral” rating to an “outperform” rating and upped their price target for the company from $44.00 to $47.00 in a research note on Wednesday, August 21st. HSBC upgraded shares of Corning from a “reduce” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 9th. UBS Group increased their target price on shares of Corning from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Susquehanna raised their target price on shares of Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.23.

Corning Trading Down 0.2 %

Shares of NYSE:GLW opened at $46.81 on Friday. Corning has a 12-month low of $26.37 and a 12-month high of $47.72. The business has a 50 day moving average of $43.61 and a 200-day moving average of $39.63. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The stock has a market cap of $40.10 billion, a PE ratio of 65.93, a P/E/G ratio of 1.77 and a beta of 1.04.

Hedge Funds Weigh In On Corning

Hedge funds and other institutional investors have recently modified their holdings of the business. Access Investment Management LLC acquired a new stake in Corning in the first quarter valued at about $28,000. City Holding Co. grew its holdings in shares of Corning by 545.5% during the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Corning during the 1st quarter worth approximately $33,000. Future Financial Wealth Managment LLC acquired a new stake in Corning in the first quarter valued at approximately $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Corning during the first quarter worth $33,000. Institutional investors own 69.80% of the company’s stock.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is presently 157.75%.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.