Company Update: Corning Inc (NYSE:GLW) – Corning and Ford Deliver Joint Research on Lightweight Glass Solutions

[GlobeNewswire] – CORNING, N.Y., APRIL 21, 2016 – Corning Incorporated (NYSE: GLW) today announced the results of a recently delivered joint research paper with the Ford Motor Company about the damage resistance of thin, … Read more on this. Corning Inc. (GLW) , with a current market cap of $22.87B, began trading this morning at $20.95. Today’s price range has been between $20.78 and $21.07 per share and has traded between $15.42 and $22.98 over the past 12 months. GLW shares are currently priced at 14.88x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.56x earnings multiple. The company pays shareholders $0.54 per share annually in dividends, yielding 2.58%. According to a consensus of 15 analysts, the earnings estimate of $0.28 per share would be $0.07 worse than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $1.41 which would be a $0.01 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.23 Billion. If realized, that would be a 8.23% decrease over the year-ago quarter. In terms of ratings, Goldman upgraded GLW from Neutral to Buy (Apr 12, 2016). Previously, JP Morgan downgraded GLW from Overweight to Neutral. With the above information in mind, readers should note that the average price target is $20.27, which is 3.25% below where the stock opened this morning. See more in (NYSE:GLW) Similar Articles: Company Update (NYSE:GLW): Saint-Gobain and Corning Announce New Joint Venture to Produce Lightweight Glazing for the Automotive Market Market Update: Corning Inc (NYSE:GLW) – Ford GT First Production Vehicle to Use Lightweight Corning® Gorilla® Glass for Windshield Stock Update (NYSE:GLW): Corning Lotus(TM) NXT Glass Chosen for Samsung Display’s LTPS-OLED Line