Earnings results for Corning (NYSE:GLW)
Corning Incorporated is expected* to report earnings on 07/27/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.51. The reported EPS for the same quarter last year was $0.25.
Corning last issued its earnings data on April 27th, 2021. The electronics maker reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The business earned $3.29 billion during the quarter, compared to the consensus estimate of $3.11 billion. Its revenue was up 37.6% on a year-over-year basis. Corning has generated $1.39 earnings per share over the last year and currently has a price-to-earnings ratio of 31.6. Corning has confirmed that its next quarterly earnings report will be published on Tuesday, July 27th, 2021. Corning will be holding an earnings conference call on Tuesday, July 27th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Corning (NYSE:GLW)
10 Wall Street analysts have issued ratings and price targets for Corning in the last 12 months. Their average twelve-month price target is $42.00, predicting that the stock has a possible upside of 2.29%. The high price target for GLW is $55.00 and the low price target for GLW is $26.00. There are currently 2 hold ratings and 8 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Corning has received a consensus rating of Buy. The company’s average rating score is 2.80, and is based on 8 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $42.00, Corning has a forecasted upside of 2.3% from its current price of $41.06. Corning has only been the subject of 1 research reports in the past 90 days.
Dividend Strength: Corning (NYSE:GLW)
Corning pays a meaningful dividend of 2.33%, higher than the bottom 25% of all stocks that pay dividends. Corning has only been increasing its dividend for 1 years. The dividend payout ratio of Corning is 69.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Corning will have a dividend payout ratio of 40.85% next year. This indicates that Corning will be able to sustain or increase its dividend.
Insiders buying/selling: Corning (NYSE:GLW)
In the past three months, Corning insiders have sold 5,646.14% more of their company’s stock than they have bought. Specifically, they have bought $239,744.00 in company stock and sold $13,776,016.00 in company stock. Only 0.48% of the stock of Corning is held by insiders. 67.12% of the stock of Corning is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Corning (NYSE:GLW
Earnings for Corning are expected to grow by 11.90% in the coming year, from $2.10 to $2.35 per share. The P/E ratio of Corning is 31.58, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.69. The P/E ratio of Corning is 31.58, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 50.18. Corning has a PEG Ratio of 1.09. PEG Ratios above 1 indicate that a company could be overvalued. Corning has a P/B Ratio of 2.81. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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