Stock in the News: Corning Incorporated (NYSE: GLW)

CORNING, N.Y., June 20, 2019 – Shares of Corning Incorporated (NYSE: GLW) showed the bullish trend with a higher momentum of 0.55% to $32.70. The company traded total volume of 4.762M shares as contrast to its average volume of 4.21M shares. The company has a market value of $25.98B and about 794.40M shares outstanding.

Corning Inc. (GLW) recently stated first-quarter net income of $499.0M, after reporting a loss in the same period a year earlier. On a per-share basis, the Corning, New York-based company said it had profit of 55 cents. Earnings, adjusted for one-time gains and costs, came to 40 cents per share. The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The specialty glass maker posted revenue of $2.810B in the period. Its adjusted revenue was $2.850B, also topping Street forecasts. Three analysts surveyed by Zacks expected $2.810B.

The Company offered net profit margin of 17.70% while its gross profit margin was 39.70%. ROE was recorded as 17.90% while beta factor was 1.15. The stock, as of recent close, has shown the weekly upbeat performance of 4.77% which was maintained at 8.24% in this year.

Ameena Dalia

Finance and Entertainment Reporter

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