Corning (NYSE:GLW) Posts Earnings Results, Beats Expectations By $0.01 EPS

Corning (NYSE:GLW) announced its quarterly earnings results on Wednesday. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01, Zacks reports. Corning had a return on equity of 15.01% and a net margin of 3.86%. Corning updated its Q1 2025 guidance to 0.480-0.520 EPS.

Corning Stock Up 2.4 %

NYSE GLW traded up $1.22 during trading on Friday, reaching $51.21. 599,330 shares of the company’s stock were exchanged, compared to its average volume of 6,026,276. The firm has a market capitalization of $43.85 billion, a PE ratio of 88.31, a P/E/G ratio of 1.35 and a beta of 1.04. Corning has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. 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’s fifty day simple moving average is $48.71 and its 200-day simple moving average is $45.63.

Insider Transactions at Corning

In other 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 transaction was disclosed in a 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 firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

GLW has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Barclays cut their target price on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. UBS Group boosted their target price on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Corning Company Profile

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.