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MarketScreener Homepage  >  Equities  >  Nyse  >  Corning Incorporated    GLW

CORNING INCORPORATED

(GLW)
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Real-time Quote. Real-time Cboe BZX - 10/15 01:05:12 pm
29.645 USD   +2.19%
10/02CORNING INCORPORATED : Announces Quarterly Dividend
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10/02CORNING INCORPORATED : Dividends
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Corning Incorporated : Shares Down 8% After Sales Forecasts

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09/17/2019 | 10:13am EDT

By Michael Dabaie

Corning Inc. (GLW) shares were down 8%, to $27.62, in early trading.

The company Monday said it now expects third-quarter optical communications segment sales to decline on year by a low-teen percentage, versus a prior expectation of a low-single digit percentage decline. Several major carriers are further reducing capital spending on cable deployments and fiber-to-the-home projects and some enterprise customers have reduced their spending below anticipated levels, Corning said.

For the full year, Corning lowered forecasts for optical-communications segment sales to a decline of 3% to 5%, versus its prior expectation of a low-to-mid-single digit percentage increase. Corning said it expects both carrier and enterprise network sales to decline year-over-year in the second half of 2019.

Corning also lowered its display-technologies volume forecast to a high-single digit percentage sequential decline in the third quarter, saying several panel manufacturing customers have reduced utilization below anticipated levels in the current quarter.

Write to Michael Dabaie at michael.dabaie@wsj.com

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Financials (USD)
Sales 2019 11 457 M
EBIT 2019 1 994 M
Net income 2019 1 315 M
Debt 2019 5 217 M
Yield 2019 2,78%
P/E ratio 2019 19,2x
P/E ratio 2020 15,5x
EV / Sales2019 2,43x
EV / Sales2020 2,40x
Capitalization 22 653 M
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Technical analysis trends CORNING INCORPORATED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 31,23  $
Last Close Price 29,01  $
Spread / Highest target 44,8%
Spread / Average Target 7,66%
Spread / Lowest Target -17,3%
EPS Revisions
Managers
NameTitle
Wendell P. Weeks Chairman, President & Chief Executive Officer
R. Tony Tripeny Chief Financial Officer & Executive Vice President
David L. Morse Chief Technology Officer & Executive VP
Deborah D. Rieman Independent Director
Hansel Emory Tookes Independent Director
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