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Corning Incorporated Earnings Preview For Tuesday

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Corning Incorporated  (GLW) 

Background:Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. (Company Press Release)

Investors are looking forward to improving third-quarter earnings before the market opens on October 28, 2014. The consensus opinion is presently 37 cents a share, a progression of 4 cents (12.1%) from 33 cents during the corresponding period last year.

I've read estimates from 35 cents to as high as 40 cents per share. So that tells you how much consensus there is.

The company currently pays 40 cents per share in dividends for a yield of 2.3%. Looking back at the previous five years, this stock delivered an average yield of 0.00%.

Analysts are taking as much of a stand as many of our elected officials typically demonstrate on key issues. Hold ratings can indicate just about anything, however, I think of holds as one small step above sell ratings, and not in-between a buy and a sell. It appears 12 out of 19 now rate the company a hold, while 6 recommend buying and 1 recommend selling.
 

3 out of 19 analysts now rate Corning Incorporated a strong buy down from 4 analysts a month ago. Investors are grinning from ear to ear, and analysts are too. The shares have rocketed higher 21% over the last 52 weeks. Analysts are placing a price target of $21.72.


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