Barclays Capital (BCS) Analysts Lower Price Target on Corning Inc. (GLW) to $28.00
Wednesday, June 22, 2021 10:41 AM

Equities research analysts at Barclays Capital (NYSE: BCS) lowered their price target on shares of Corning Inc. (NYSE: GLW) to $28.00 in a research note to investors on Wednesday. The analysts currently have an "overweight" rating on the stock.

Separately, analysts at Sterne Agee reiterated a "buy" rating on shares of Corning Inc. in a research note to investors on Tuesday, June 14th. Also, analysts at Citigroup (NYSE: C) reiterated a "hold" rating on shares of Corning Inc. in a research note to investors on Monday, June 6th.

Shares of Corning Inc. traded up 0.34% during mid-day trading on Thursday, hitting $17.72. Corning Inc. has a 52 week low of $15.45 and a 52 week high of $23.43. The stock's 50-day moving average is $19.5 and its 200-day moving average is $20.40. The company has a market cap of $27.819 billion and a price-to-earnings ratio of 8.03.

Corning Inc. last announced its quarterly results on Wednesday, April 27th. The company reported $0.47 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.44 EPS by $0.03. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 9.00% on a year-over-year basis. On average, analysts predict that Corning Inc. will post $0.55 EPS next quarter.

Corning Incorporated (Corning) is a technology-based corporation that operates in five reportable business segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials and Life Sciences. Corning manufactures and processes products at approximately 60 plants in 13 countries. Its subsidiaries include Corning Cable Systems LLC, Corning Cable Systems Polska Sp. Z o.o, Axygen BioScience, Inc and Corsam Technologies LLC. In September 2009, Corning acquired Axygen BioScience, Inc. In October 2010, the Company acquired Plaslab S.A.S.

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