2018 Q2 Sentiment Corning Inc (NYSE:GLW)

September 30, 2018 - By Jason Dias

Corning Incorporated (NYSE:GLW) Logo

Sentiment for Corning Inc (NYSE:GLW)

Corning Inc (NYSE:GLW) institutional sentiment increased to 0.7 in 2018 Q2. Its up 0.07, from 0.63 in 2018Q1. The ratio has increased, as 263 active investment managers increased and opened new stock positions, while 374 sold and reduced positions in Corning Inc. The active investment managers in our partner’s database now have: 554.76 million shares, down from 565.69 million shares in 2018Q1. Also, the number of active investment managers holding Corning Inc in their top 10 stock positions decreased from 19 to 15 for a decrease of 4. Sold All: 63 Reduced: 311 Increased: 202 New Position: 61.

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company has market cap of $28.59 billion. The firm operates through five divisions: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. It currently has negative earnings. The Display Technologies segment makes glass substrates for liquid crystal displays used in LCD televisions, notebook computers, and flat panel desktop monitors.

The stock decreased 0.25% or $0.09 during the last trading session, reaching $35.3. About 3.56M shares traded. Corning Incorporated (NYSE:GLW) has risen 16.67% since September 30, 2017 and is uptrending. It has outperformed by 1.05% the S&P500.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 23. They expect $0.47 earnings per share, up 9.30 % or $0.04 from last year’s $0.43 per share. GLW’s profit will be $380.71 million for 18.78 P/E if the $0.47 EPS becomes a reality. After $0.38 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 23.68 % EPS growth.

Towerview Llc holds 10.21% of its portfolio in Corning Incorporated for 800,000 shares. Minneapolis Portfolio Management Group Llc owns 1.70 million shares or 6.17% of their US portfolio. Moreover, Quaker Capital Investments Llc has 5.98% invested in the company for 644,060 shares. The New York-based Oppenheimer & Close Llc has invested 5.95% in the stock. F&V Capital Management Llc, a New York-based fund reported 293,975 shares.

Since January 1, 0001, it had 0 buys, and 6 selling transactions for $9.50 million activity.

Corning Incorporated (NYSE:GLW) Ratings Coverage

Ratings analysis reveals 33% of Corning Inc’s analysts are positive. Out of 6 Wall Street analysts rating Corning Inc, 2 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $2900 while the high is $40. The stock’s average target of $33.67 is -4.62% below today’s ($35.3) share price. GLW was included in 7 notes of analysts from May 3, 2018. The company was initiated on Thursday, May 3 by J.P. Morgan. UBS maintained it with “Neutral” rating and $32 target in Thursday, July 26 report. Morgan Stanley upgraded the stock to “Overweight” rating in Thursday, May 31 report. Morgan Stanley maintained it with “Overweight” rating and $35 target in Thursday, July 26 report. The rating was upgraded by Citigroup on Friday, September 14 to “Buy”. Goldman Sachs upgraded the stock to “Hold” rating in Wednesday, June 20 report.

More news for Corning Incorporated (NYSE:GLW) were recently published by: Seekingalpha.com, which released: “Corning Inc. (GLW) Management Presents at Deutsche Bank Technology Conference (Transcript)” on September 13, 2018. Fool.com‘s article titled: “Corning Stock Wins an Upgrade — but Does It Make Sense?” and published on September 14, 2018 is yet another important article.

Corning Incorporated (NYSE:GLW) Institutional Positions Chart

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