Corning Incorporated (GLW) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $0.28 EPS for the quarter. Analysts had a consensus estimate of $0.28. The company posted revenue of $2170.00 million in the period, compared to analysts expectations of $2237.22 million. The company’s revenue was down -10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.
Many Wall Street Analysts have commented on Corning Incorporated. Corning Incorporated was Upgraded by Goldman to ” Buy” on Apr 12, 2016. Company shares were Reiterated by Deutsche Bank on Apr 8, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $21 .
Corning Incorporated opened for trading at $20.69 and hit $21.12 on the upside on Friday, eventually ending the session at $20.99, with a gain of 0.91% or 0.19 points. The heightened volatility saw the trading volume jump to 59,01,783 shares. Company has a market cap of $23,358 M.
In a different news, on Feb 19, 2016, Jeffrey W Evenson (Senior VP & Chief Strategy Off) sold 53,008 shares at $19.03 per share price. According to the SEC, on Feb 12, 2016, Lawrence D Mcrae (Vice Chairman & Corp. Dev. Off) sold 34,000 shares at $18.54 per share price. On Feb 5, 2016, James B Flaws (VICE CHAIRMAN) sold 69,519 shares at $18.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics mobile emissions control optical communications and life sciences. Corning operates in five segments: Display Technologies which manufactures glass substrates; Optical Communications which is engaged in providing optical solutions; Environmental Technologies which manufactures ceramic substrates and filter products; Specialty Materials which manufactures products that provide more than 150 material formulations for glass glass ceramics and fluoride crystals and Life Sciences segment which is a developer manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.