Corning Incorporated (NYSE:GLW) stock is presently standing at about $26.68 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 16 analysts covering the company is $27.00, which suggests the stock could still rise over 1 percent. The highest analyst price target is $31.00, which implies a rally of 84 percent. And a quick view of analyst notes show that 4 are rating the stock a buy while 5 rate GLW a strong buy. There are 8 equity research firms advocating a Hold and 1 consider it Sell.
BofA/Merrill analysts provided their view on Corning Incorporated (NYSE:GLW) recently. The rating firm issued a Neutral rating to this company in a research note released on Jan 24, 2017. Guggenheim analysts disclosed their opinion on Corning Incorporated (NYSE:GLW) recently. The rating firm gave a Buy rating to this stock in a research note published on Jan 04, 2017. According to a research note disclosed on Jun 13, 2016, analysts at Standpoint Research have lowered their rating on these shares from Buy to Hold.
Corning Incorporated (NYSE:GLW) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Senior VP & Treasurer ROGUS MARK S sold 18,000 company shares for $480000.96, in a transaction on 2017-01-25. Following the transaction, the Senior VP & Treasurer is left with a stake of 480.96 shares, currently valued at $12832. Meanwhile, Exec VP, Corning Tech. & Intl. Musser Eric S sold 37,242 shares worth $991000.75, through a transaction dated 2017-01-25. Following the completion of the transaction, the insider is left with a stake of 29,076 shares, amounting $775747.68. GLW Executive Vice President Morse David L also sold 128,103 shares, at a stock price of $26.7. This transaction occurred on 2017-01-25 totals $3420000.35. After this transaction, the insider’s stake stands at 43,629 shares, with a market value of $1164022.
Executives hold 0.43 percent of the stock. Robert L. Ecklin is one of the biggest insider owners in Corning Incorporated (NYSE:GLW), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 796,764 shares which have current market value of around $21257663.52.James B. Flaws is another major inside shareholder in the company. The insider owns 275,074 shares as of less than 0.1%, currently worth $7338974.32. John M. Hennessy is ranked as third insider holder of the stock. This insider holds 255,620 shares with a market value around $6819941.6 as of recent close.
Corning Incorporated (NYSE:GLW) Earnings Outlook
In Corning Incorporated (NYSE:GLW)’s latest quarter, EPS moved to $0.50 from $0.42 in preceding quarter and revenues reached at $2,551.00M compared to $2,548.00M. Analysts had expected Corning Incorporated (NYSE:GLW) to post net income of about $0.44 per share on $2,498.72M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.31 to $0.37. That is compared with the $0.28 in EPS it reported during the same period a year ago.