Zacks Research Has Bearish Estimate for Corning Q4 Earnings

Corning Incorporated (NYSE:GLW) – Equities researchers at Zacks Research decreased their Q4 2024 earnings per share estimates for shares of Corning in a report released on Wednesday, October 23rd. Zacks Research analyst R. Department now expects that the electronics maker will earn $0.52 per share for the quarter, down from their previous forecast of $0.53. The consensus estimate for Corning’s current full-year earnings is $1.91 per share. Zacks Research also issued estimates for Corning’s Q3 2026 earnings at $0.75 EPS and FY2026 earnings at $2.60 EPS.

Several other equities research analysts have also recently issued reports on the company. Susquehanna lifted their price objective on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a report on Friday, September 20th. Morgan Stanley reiterated an “equal weight” rating and set a $39.00 price target on shares of Corning in a research report on Friday, July 26th. Barclays increased their price objective on Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Argus lifted their target price on shares of Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Oppenheimer increased their target price on shares of Corning from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $47.23.

Corning Stock Down 1.2 %

GLW stock opened at $46.25 on Friday. Corning has a 52 week low of $26.37 and a 52 week high of $47.72. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $43.86 and a 200-day simple moving average of $39.78. The stock has a market capitalization of $39.62 billion, a P/E ratio of 65.14, a P/E/G ratio of 1.77 and a beta of 1.04.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. Corning had a net margin of 3.53% and a return on equity of 12.69%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is currently 157.75%.

Hedge Funds Weigh In On Corning

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Corning by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock worth $566,941,000 after acquiring an additional 4,464,893 shares during the last quarter. Natixis boosted its position in shares of Corning by 2,405.2% during the 1st quarter. Natixis now owns 1,807,801 shares of the electronics maker’s stock worth $59,585,000 after purchasing an additional 1,735,638 shares during the period. Pathway Financial Advisers LLC increased its holdings in Corning by 4,306.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock valued at $47,428,000 after purchasing an additional 1,026,626 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Corning by 10,626.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,013,000 shares of the electronics maker’s stock valued at $33,388,000 after purchasing an additional 1,003,556 shares during the period. Finally, Shellback Capital LP acquired a new position in Corning during the second quarter worth $34,483,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

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.