Market Update: Corning Inc (NYSE:GLW) – Corning CEO Addresses Shareholders at Annual Meeting

[GlobeNewswire] – CORNING, N.Y., April 28, 2016 – Speaking at the company`s annual meeting of shareholders this morning, Wendell P. Weeks , Corning Incorporated `s (NYSE: GLW) chairman, chief executive officer, and president, … Read more on this. Corning Inc. (GLW) , valued at $20.93B, started trading this morning at $19.24. Shares have traded today between $18.88 and $19.24 per share with a one year range of $15.42 to $22.05. Priced at 13.99x this year’s forecasted earnings, GLW shares are relatively expensive compared to the industry’s 13.60x forward p/e ratio. The company pays shareholders $0.54 per share annually in dividends, yielding 2.57%. According to a consensus of 15 analysts, the earnings estimate of $0.34 per share would be $0.04 worse than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.38 would be a $0.02 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 $2.40 Billion. If realized, that would be a 4.76% 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. When considering if the stock is under or overvalued, the average price target is $20.17, which is 4.83% above where the stock opened this morning. See more in (NYSE:GLW) Similar Articles: Market Update: Corning Inc (NYSE:GLW) – Alliance Fiber Optic Products Skyrockets 20%, Co. To Be Acquired By Corning Market Update: Corning Inc (NYSE:GLW) – Corning Named 2016 ENERGY STAR® Partner of the Year Market Update: Corning Inc (NYSE:GLW) – Corning Hosts Annual Investor Meeting