Corning (NYSE:GLW) Posts Quarterly Earnings Results

Corning (NYSE:GLW) announced its quarterly earnings data on Wednesday. The electronics maker reported $0.57 earnings per share for the quarter, topping 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 Performance

Shares of Corning stock opened at $50.74 on Wednesday. Corning has a one year low of $30.72 and a one year high of $55.33. The company has a 50-day simple moving average of $48.62 and a two-hundred day simple moving average of $45.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $43.45 billion, a PE ratio of 306.45, a P/E/G ratio of 1.46 and a beta of 1.04.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Activity

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction on 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 directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This trade represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

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.