Market Update: Corning Inc (NYSE:GLW) – Ford GT First Production Vehicle to Use Lightweight Corning® Gorilla® Glass for Windshield

[GlobeNewswire] – CORNING, N.Y., December 15, 2015 – Corning Incorporated (NYSE: GLW) today announced that the Ford GT supercar is the first production vehicle to use Corning® Gorilla® Glass for Automotive in a windshield. … Read more on this. Corning Inc. (GLW) , with a current value of $21.14B, opened this morning at $18.17. During today’s session, GLW traded between $17.77 to $18.26 and has traded between $15.42 and $25.16 over the past year. GLW shares are currently priced at 13.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.96x earnings multiple. And for income investors, the company pays shareholders $0.48 per share annually in dividends, yielding 2.57%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.32 per share, which would be $0.13 worse than the year-ago quarter and a $0.04 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.39, which would be a $0.14 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.34 Billion. If reported, that would be a 10.00% decrease over the year-ago quarter. More recently, BofA/Merrill downgraded GLW from Neutral to Underperform (Jul 13, 2015). Previously, Credit Agricole downgraded GLW from Underperform to Sell. When considering if perhaps the stock is under or overvalued, the average price target is $20.22, which is 11.28% above where the stock opened this morning. See more in (NYSE:GLW) Similar Articles: Stock Update (NYSE:GLW): Obi Worldphone(TM) Latest to Adopt Corning® Gorilla® Glass 4 for New Smartphones Market Update (NYSE:GLW): Corning sales miss Street on weak demand for LCD glass Company Update (NYSE:GLW): Corning Announces the First Smartphone Using Antimicrobial Corning® Gorilla® Glass