Corning (NYSE:GLW) Earns Positive Rating from Susquehanna

Susquehanna reissued their positive rating on shares of Corning (NYSE:GLW) in a report released on Monday, Benzinga reports. The brokerage currently has a $40.00 price target on the electronics maker’s stock.

GLW has been the topic of a number of other research reports. HSBC cut Corning from a hold rating to a reduce rating and set a $29.00 price target on the stock. in a research note on Thursday, February 1st. UBS Group increased their price target on Corning from $29.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, January 11th. StockNews.com upgraded Corning from a sell rating to a hold rating in a research note on Monday. Finally, Barclays increased their price target on Corning from $28.00 to $35.00 and gave the company an equal weight rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $33.67.

Corning Trading Down 0.6 %

NYSE GLW opened at $32.38 on Monday. The company has a market cap of $27.69 billion, a PE ratio of 48.32, a PEG ratio of 1.85 and a beta of 1.08. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. Corning has a 12 month low of $25.26 and a 12 month high of $36.01. The stock has a 50 day moving average of $32.35 and a 200-day moving average of $30.32.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.26 billion. Corning had a return on equity of 12.31% and a net margin of 4.62%. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that Corning will post 1.86 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Wednesday, February 28th. Corning’s dividend payout ratio (DPR) is currently 167.16%.

Insider Transactions at Corning

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the sale, the insider now directly owns 215,254 shares of the company’s stock, valued at approximately $7,155,042.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Corning

Large investors have recently bought and sold shares of the business. Natixis Advisors L.P. boosted its stake in Corning by 5.9% in the third quarter. Natixis Advisors L.P. now owns 101,322 shares of the electronics maker’s stock valued at $3,087,000 after buying an additional 5,616 shares in the last quarter. KMG Fiduciary Partners LLC acquired a new stake in shares of Corning during the fourth quarter valued at about $1,199,000. HB Wealth Management LLC boosted its stake in shares of Corning by 24.2% during the fourth quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after purchasing an additional 1,926 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Corning by 59.8% during the fourth quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock valued at $3,300,000 after purchasing an additional 40,564 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Corning by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 7,883,126 shares of the electronics maker’s stock valued at $240,199,000 after purchasing an additional 490,638 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

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.