Published: Fri, May 12, 2017
Business | By Max Garcia

Buy or Sell? What Analysts Recommends: Corning Incorporated (GLW), First Bancorp (FBP)


Citigroup Inc cut Corning from a "buy" rating to a "neutral" rating and upped their target price for the stock from $28.00 to $29.00 in a report on Friday, March 31st. They issued a buy rating and a $28.00 target price on the stock. The short ratio in the company's stock is documented at 2.62 and the short float is around of 1.8%. Deutsche Bank AG raised their price objective on shares of Corning from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, January 18th. Ancora Advisors Limited Liability Company holds 0% or 50 shares in its portfolio. Now American International Group, Inc.'s current price is $13.63 shy of the official highest sell-side analyst price target on Wall Street. Finally, Goldman Sachs Group Inc reaffirmed a "neutral" rating and set a $29.00 price objective on shares of Corning in a report on Wednesday, April 26th.

Among 16 analysts covering Corning Incorporated (NYSE:GLW), 4 have Buy rating, 1 Sell and 11 Hold. The company now has an average rating of "Hold" and an average price target of $27.13.

Corning Incorporated (NYSE:GLW)'s share price hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. Stock dripped -5.95% over the trailing 6 months. The stock's 50-day moving average price is $61.04 and its 200 day moving average price is $56.00. The stock's 52-week range is $18.39 - $29.29. The total market capitalization remained at $7.66 billion.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 25th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Revenue is expected in between 2.58 Billion and 2.46 Billion with an average of 2.54 Billion.

For a total return analysis, there is the 0.40% return on equity and the -1.00% return on assets to consider. Corning's revenue for the quarter was up 16.0% compared to the same quarter past year.

Corning Incorporated (GLW) have shown a high EPS growth of 12.70% in the last 5 years and has earnings decline of 224.00% yoy. Analysts predict that Corning Incorporated will post $1.75 earnings per share for the current fiscal year. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, May 26th. The present value of the firm in the stock market is $2.40B.

Among 16 analysts covering Corning Incorporated (NYSE:GLW), 4 have Buy rating, 1 Sell and 11 Hold.

If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, GLW earned gross profit of 4.05 Billion, in 2015 3.65 Billion gross profit, while in 2016 Corning Inc. If you are reading this report on another domain, it was copied illegally and republished in violation of USA and worldwide copyright law.

In other news, VP Edward A. Schlesinger sold 5,422 shares of the business's stock in a transaction that occurred on Tuesday, May 9th. Following the transaction, the chief executive officer now directly owns 153,500 shares in the company, valued at $4,299,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The stock rose 1.87% or $0.23 reaching $12.52 per share. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock. TCW Group Inc. now owns 5,981,079 shares of the electronics maker's stock worth $145,160,000 after buying an additional 345,070 shares in the last quarter. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Corning during the third quarter worth $111,000. Norges Bank bought a new position in shares of Corning during the fourth quarter valued at about $265,739,000.

Corning Incorporated (NYSE:GLW) has a current MF Rank of 6598. The Jag Capital Management Llc holds 544,567 shares with $14.97M value, up from 332,790 last quarter.

Corning Inc. (GLW) has 917.68 Million shares outstanding and 917.55 Million shares were floated in market. Central Bank & Trust Co. now owns 3,919 shares of the electronics maker's stock worth $106,000 after buying an additional 3,282 shares in the last quarter. For investors, Forward P/E ratio allows a quick snapshot of the company's finances without getting bogged down in the details of an accounting report.

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. The Company's divisions include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment makes glass substrates for flat panel liquid crystal displays.

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