Corning (NYSE:GLW – Get Free Report) released its quarterly earnings data on Tuesday. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02, Briefing.com reports. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a net margin of 3.53% and a return on equity of 12.69%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. Corning updated its Q4 guidance to $0.53-0.57 EPS and its Q4 2024 guidance to 0.530-0.570 EPS.
Corning Stock Down 1.9 %
Shares of NYSE GLW traded down $0.92 on Wednesday, reaching $48.11. 4,782,829 shares of the company’s stock traded hands, compared to its average volume of 5,729,778. The business’s 50 day simple moving average is $44.15 and its two-hundred day simple moving average is $40.11. Corning has a 12 month low of $26.41 and a 12 month high of $51.03. The company has a market cap of $41.21 billion, a price-to-earnings ratio of 68.03, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 2.33%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is currently 157.75%.
Analysts Set New Price Targets
Get Our Latest Analysis on Corning
About Corning
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.
Read More
- Five stocks we like better than Corning
- Insider Trades May Not Tell You What You Think
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- How to Invest in Blue Chip Stocks
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.