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Corning (GLW) Dips More Than Broader Markets: What You Should Know

Corning (GLW) closed the most recent trading day at $42.76, moving -0.58% from the previous trading session. This change lagged the S&P 500's 0.18% loss on the day.

Heading into today, shares of the specialty glass maker had lost 4.72% over the past month, lagging the Computer and Technology sector's gain of 2.1% and the S&P 500's gain of 0.04% in that time.

Wall Street will be looking for positivity from GLW as it approaches its next earnings report date. In that report, analysts expect GLW to post earnings of $0.51 per share. This would mark year-over-year growth of 104%. Meanwhile, our latest consensus estimate is calling for revenue of $3.41 billion, up 31.69% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.11 per share and revenue of $13.85 billion, which would represent changes of +51.8% and +20.94%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for GLW. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GLW currently has a Zacks Rank of #2 (Buy).

Investors should also note GLW's current valuation metrics, including its Forward P/E ratio of 20.38. Its industry sports an average Forward P/E of 23.15, so we one might conclude that GLW is trading at a discount comparatively.

It is also worth noting that GLW currently has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GLW's industry had an average PEG ratio of 1.97 as of yesterday's close.

The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow GLW in the coming trading sessions, be sure to utilize Zacks.com.


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