Corning (NYSE:GLW) was upgraded by stock analysts at Cross Research to a “buy” rating in a report issued on Thursday, Stock Ratings Network reports.
Corning (NYSE:GLW) opened at 17.52 on Thursday. Corning has a 1-year low of $10.71 and a 1-year high of $16.43. The stock’s 50-day moving average is $14.7 and its 200-day moving average is $14.35. The company has a market cap of $25.586 billion and a price-to-earnings ratio of 13.60. Corning also was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 21,736 put options on the company. This is an increase of 187% compared to the typical daily volume of 7,571 put options.
Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.01. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts expect that Corning will post $1.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, November 13th.
A number of other analysts have also recently weighed in on GLW. Analysts at Sterne Agee downgraded shares of Corning from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at Standpoint Research downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They noted that the move was a valuation call. Finally, analysts at Stifel Nicolaus raised their price target on shares of Corning from $17.00 to $23.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.33.
Corning Incorporated (NYSE:GLW) is a global, technology-based corporation.
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