Corning Inc (NYSE: GLW) has reported earnings for its first fiscal quarter (ending March 31) of $0.25 versus $0.21 for the same period a year ago — an increase of 19%. Relative to the consensus estimate of $0.47, this was a shortfall of $-0.22. For the latest four quarters through March 31, E.P.S. were $0.72 compared to $1.09 a year ago — a decline of -34%.
Recent Price Action
Corning Inc (NYSE: GLW) stock enjoyed a very large increase of 5.0% on 4/30/24. The shares closed at $33.38. Moreover, exceptionally high trading volume at 281% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 5.8% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, GLW is expected to continue to be a major Value Builder.
Corning has a current Value Trend Rating of D (Negative). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Corning has a neutral Power Rating of 42 but a poor Appreciation Score of 28, resulting in the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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