News stories about Corning (NYSE:GLW) have trended somewhat positive this week, Accern reports. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Corning earned a news impact score of 0.10 on Accern’s scale. Accern also gave news articles about the electronics maker an impact score of 46.626770191635 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- Is Corning Incorporated (GLW) a Buy? (finance.yahoo.com)
- Turning Focus Towards Range Resources Corporation (RRC) and Corning Incorporated (GLW) Technicals – Market Movers (financialqz.com)
- Do What Institutional Investors Does: Range Resources Corporation (RRC), Corning Incorporated (GLW) – Market Movers (financialqz.com)
- Why Corning's Stock Soared More Than 30% in 2017 (finance.yahoo.com)
- Corning (GLW) Scheduled to Post Earnings on Monday (americanbankingnews.com)
Several analysts have recently commented on the stock. Barclays set a $38.00 price objective on shares of Corning and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Guggenheim reaffirmed a “buy” rating and set a $35.00 price objective on shares of Corning in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of Corning from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, December 19th. ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Deutsche Bank raised their price objective on shares of Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.48.
Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Corning had a return on equity of 11.53% and a net margin of 24.98%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.42 EPS. Corning’s quarterly revenue was up 4.0% compared to the same quarter last year. analysts anticipate that Corning will post 1.7 earnings per share for the current fiscal year.
In related news, insider Mark S. Rogus sold 9,242 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $32.12, for a total value of $296,853.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 248,857 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $31.37, for a total value of $7,806,644.09. Following the completion of the transaction, the chief executive officer now owns 65,333 shares in the company, valued at $2,049,496.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,320 shares of company stock worth $10,996,824. 0.59% of the stock is owned by company insiders.
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Corning Company Profile
Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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