Corning (NYSE:GLW) Issues Earnings Results, Beats Estimates By $0.01 EPS

Corning (NYSE:GLW) issued its quarterly earnings data on Wednesday. The electronics maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01, Zacks reports. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning updated its Q1 2025 guidance to 0.480-0.520 EPS.

Corning Trading Down 2.5 %

NYSE:GLW opened at $49.97 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. Corning has a one year low of $30.72 and a one year high of $55.33. The company has a market cap of $42.78 billion, a PE ratio of 293.93, a PEG ratio of 1.46 and a beta of 1.04. The firm has a 50-day moving average of $48.62 and a 200-day moving average of $45.57.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their price target on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Barclays dropped their price objective on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, HSBC raised shares of Corning from a “hold” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $60.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Activity at Corning

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, the senior vice president now directly owns 6,700 shares in the company, valued at $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

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.