Is Corning Inc (NYSE:GLW) Going to Burn These Institutional Investors?

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Sentiment for Corning Inc (NYSE:GLW)

Corning Inc (NYSE:GLW) institutional sentiment increased to 1.01 in Q2 2019. Its up 0.13, from 0.88 in 2019Q1. The ratio is more positive, as 313 investment managers started new and increased equity positions, while 309 sold and decreased stakes in Corning Inc. The investment managers in our partner’s database reported: 543.66 million shares, up from 538.21 million shares in 2019Q1. Also, the number of investment managers holding Corning Inc in their top 10 equity positions decreased from 23 to 19 for a decrease of 4. Sold All: 55 Reduced: 254 Increased: 246 New Position: 67.

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 $23.55 billion. The firm operates through five divisions: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. It has a 18.85 P/E ratio. 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 0.30% or $0.09 during the last trading session, reaching $30.16. About 3.67M shares traded. Corning Incorporated (NYSE:GLW) has declined 6.65% since September 13, 2018 and is downtrending. It has underperformed by 6.65% the S&P500.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 22. They expect $0.46 earnings per share, down 9.80 % or $0.05 from last year’s $0.51 per share. GLW’s profit will be $359.20M for 16.39 P/E if the $0.46 EPS becomes a reality. After $0.45 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 2.22 % EPS growth.

Towerview Llc holds 15.16% of its portfolio in Corning Incorporated for 800,000 shares. Quaker Capital Investments Llc owns 570,249 shares or 7.7% of their US portfolio. Moreover, Oppenheimer & Close Llc has 7.21% invested in the company for 187,840 shares. The Minnesota-based Minneapolis Portfolio Management Group Llc has invested 6.8% in the stock. Shufro Rose & Co Llc, a New York-based fund reported 1.55 million shares.

Corning Incorporated (NYSE:GLW) Ratings Coverage

Ratings analysis reveals 50% of Corning’s analysts are positive. Out of 2 Wall Street analysts rating Corning, 1 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $29.5 while the high is $3500. The stock’s average target of $32.25 is 6.93% above today’s ($30.16) share price. GLW was included in 8 notes of analysts from March 28, 2019. The stock has “Hold” rating by Jefferies on Thursday, June 20.

More notable recent Corning Incorporated (NYSE:GLW) news were published by: Benzinga.com which released: “Stocks That Hit 52-Week Lows On Wednesday – Benzinga” on August 28, 2019, also Finance.Yahoo.com with their article: “Is Corning Incorporated’s (NYSE:GLW) 2.6% Dividend Worth Your Time? – Yahoo Finance” published on June 09, 2019, Finance.Yahoo.com published: “Here’s What Hedge Funds Think About Corning Incorporated (GLW) – Yahoo Finance” on June 13, 2019. More interesting news about Corning Incorporated (NYSE:GLW) were released by: Finance.Yahoo.com and their article: “What Kind Of Shareholders Own Corning Incorporated (NYSE:GLW)? – Yahoo Finance” published on April 30, 2019 as well as Globenewswire.com‘s news article titled: “Corning® Astraâ„¢ Glass Wins Touch Taiwan’s 2019 Gold Panel Award – GlobeNewswire” with publication date: August 27, 2019.

Corning Incorporated (NYSE:GLW) Institutional Positions Chart

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