Corning Incorporated (NYSE:GLW) stock is currently pricing at roughly $29.02. Our analysis shows that the stock is widely covered by equity research firms, and target prices are revealing. From a summary standpoint, we track the median one-year price target among 14 analysts covering the company at $29.00. That suggests shares of the stock may have another 0 percent to the upside left to run. Of those analysts we surveyed, the highest price target on recordsits at $34.00, which would imply another 83 percent in upside potential. If we look for a little more qualitative data on the range of expectations, we find in analyst notes that the stock has 3 “Buy” ratings in place. At the same time, 3 rate the stock a “strong buy”, suggesting more conviction in the story. As for the doubters, 11 equity research analyst firms call this stock a “Hold” and 0 consider it bad enough to warrant a “Sell” rating.
Analysts at Citigroup took a look at GLW shares in a research note released on Mar 31, 2017, and issued a Neutral rating to this company. Goldman analysts provided their own take on company recently as well. In a research note published on Mar 14, 2017,the house assigned a Neutral rating to this stock. According to a piece that hit the wires on Feb 01, 2017, researchers at Bernstein reconsidered their prior rating on the stock, and lowered it from Outperform Perform to Mkt Perform.
Corning Incorporated (GLW) Cap Table Analysis
Breaking down the capitalization table is our next goal. From a bird’s eye view, Executives hold 0.47 percent of the stock.
If we take a more granular look, Robert L. Ecklin is one of the largest owners in company capital stock among insiders. According to U.S. Securities and Exchange Commission (SEC) filings, this investor owns 796,764 shares, representing a total current market value of roughly $23122091.28. James B. Flaws is another major player among company insiders, currently holding 275,074 shares as of less than 0.1%, carrying a current market value of $7982647.48. John M. Hennessy is currently ranked as the number three insider in terms of representation on the cap table for the stock, holding 255,620 shares, valued at around $7418092.4 as of recent close.
We noted a few insider transactions for the stock recently as well.
In a transaction on 2017-04-26, the company’s Chairman, CEO & President WEEKS WENDELL P sold 41,075 company shares for 1168990. That means, once accounting for this transaction, the Chairman, CEO & President is left with a stake of 767,749 shares, carrying a current total market value of $22280076. In addition, by means of a transaction dated 2017-03-13, Director RIEMAN DEBORAH sold 34,050 shares worth $940800. After that transaction, this investor is left with a total holding of 100,813 shares, representing a total investment value of $2925593.26. We also noted a 2017-03-02 transaction in which GLW Chairman, CEO & President WEEKS WENDELL P sold 153,500 shares at a stock price of $28.01, carrying a total value of $4299540, after which, this insider’s investment stands at 767,749 shares, with an overall financial value of $22280076.
Corning Incorporated (NYSE:GLW) Earnings View
In the company’s last quarter, GLW EPS moved to $0.39 from $0.50 compared sequentially with the prior quarter. Revenues for the company came in at $2.49BM. This stacks up against $2.55BM, on a sequential basis.
How does this compare with bottom and top-line expectations? Well, according to what we could find, analysts had been looking for the company to post net income of about $0.35 per share on $2.37BM in revenue. That sets up an interesting next quarter report card. We would note that analysts seem to be projecting earnings, on average, for this quarter in the range of $0.38 to $0.42. On a year-over-year basis, that compares with an EPS comp of $0.37.