Stock Update (NYSE:GLW): Corning to Showcase Vision for Advanced GlassTechnologies at CES 2016

[GlobeNewswire] – Featuring extraordinary auto, retail, home, and other interactive surfaces enabled by precision glass CORNING, N.Y., January 5, 2016 – Corning Incorporated (NYSE: GLW) today announced that it will feature … Read more on this. Corning Inc. (GLW) , valued at $21.29B, started the session at $17.92. Looking at today’s trading action, the company’s one day range from $17.92 to $18.07 with a trailing 52-week range being $15.42 to $25.16. GLW shares are currently priced at 13.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.92x earnings multiple. And for dividend hunters, the company pays shareholders $0.48 per share annually in dividends, yielding 2.63%. 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 $0.03 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.39 is a $0.14 worse when compared to the previous 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. In terms of ratings, JP Morgan downgraded GLW from Overweight to Neutral (Dec 17, 2015). Previously, Drexel Hamilton Initiated GLW at to Hold. With the above information in mind, readers should note that the average price target is $20.09, which is 12.11% above where the stock opened this morning. See more in (NYSE:GLW) Similar Articles: Market Update: Corning Inc (NYSE:GLW) – Ford GT First Production Vehicle to Use Lightweight Corning® Gorilla® Glass for Windshield Stock Update: Corning Inc (NYSE:GLW) – Corning Incorporated — Moody’s downgrades Corning’s senior unsecured rating to Baa1, outlook stable Company Update (NYSE:GLW): Corning Announces the First Smartphone Using Antimicrobial Corning® Gorilla® Glass
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