Market Update: Corning Inc (NYSE:GLW) – DSM announces multi-year agreement with Corning

[PR Newswire] – ELGIN, Ill., Feb. 8, 2016 /PRNewswire/ — Royal DSM, a global science-based company active in health, nutrition and materials, is pleased to announce a new, multi-year agreement between Corning Incorporated … Read more on this. Corning Inc. (GLW) , currently valued at $21.13B, opened this morning at $18.07. Looking at today’s market, GLW one day range is $17.79 to $18.14 with a trailing 52-week range being $15.42 to $25.05. Corning (GLW) shares are currently priced at 13.10x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.22x earnings multiple for the same period. The company pays shareholders $0.48 per share in dividend income per year, for a current yield of 2.62%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $0.28 per share, which would be $0.07 worse than the year-ago quarter and a $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.40 is a $0.00 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.24 Billion. If realized, that would be a 7.82% 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. Given all the information above, we should disclose to readers that the average price target is $19.55, which is 8.19% above than it opened this morning. See more in (NYSE:GLW) Similar Articles: Market Update: Corning Inc (NYSE:GLW) – Corning Hosts Annual Investor Meeting 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