Corning (NYSE:GLW) Issues Quarterly Earnings Results

Corning (NYSE:GLW) announced its quarterly earnings data on Wednesday. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 Stock Down 2.5 %

NYSE GLW opened at $49.97 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 293.93, a PEG ratio of 1.46 and a beta of 1.04. The company has a 50 day moving average of $48.62 and a 200-day moving average of $45.57. Corning has a 1-year low of $30.72 and a 1-year high of $55.33.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’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 completion of the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at $324,213. This represents a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GLW. Citigroup lifted their price target on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. HSBC upgraded Corning from a “hold” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $60.00 in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.