Corning (NYSE:GLW) Announces Quarterly Earnings Results

Corning (NYSE:GLW) released its quarterly earnings results 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 return on equity of 13.45% and a net margin of 1.24%. Corning updated its Q1 2025 guidance to 0.480-0.520 EPS.

Corning Price Performance

GLW stock opened at $50.74 on Wednesday. The company has a market capitalization of $43.45 billion, a P/E ratio of 306.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. Corning has a 52-week low of $30.72 and a 52-week high of $55.33. The business 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GLW shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Oppenheimer restated an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price target on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Activity

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning 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 disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.