Corning Incorporated (GLW) is Downgraded by Drexel Hamilton to Sell

Corning Incorporated (GLW) was Downgraded by Drexel Hamilton to ” Sell”. Earlier the firm had a rating of “Hold ” on the company shares. Drexel Hamilton advised their investors in a research report released on Jun 10, 2016.

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 .

On the company’s financial health, Corning Incorporated reported $0.28 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $2170.00 million for the quarter, 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.

Corning Incorporated opened for trading at $20.87 and hit $21.07 on the upside on Thursday, eventually ending the session at $21.03, with a gain of 0.24% or 0.05 points. The heightened volatility saw the trading volume jump to 77,86,999 shares. Company has a market cap of $22,615 M.

In a different news, on Jun 8, 2016, R Tony Tripeny (Senior Vice President and CFO) sold 7,500 shares at $21.17 per share price. According to the SEC, on Jun 8, 2016, Mark S Rogus (Senior VP & Treasurer) sold 10,896 shares at $21.18 per share price. On May 25, 2016, Clark S Kinlin (Executive Vice President) sold 54,352 shares at $19.83 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.

Corning Incorporated

Leave a Reply

Corning Incorporated - Is it time to Sell?

Top Brokerage Firms are advising their investors on Corning Incorporated. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.