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In the latest trading session, Corning (GLW) closed at $43.18, marking a +0.7% move from the previous day. This change outpaced the S&P 500's 0.36% loss on the day.
Prior to today's trading, shares of the specialty glass maker had lost 5.57% over the past month. This has lagged the Computer and Technology sector's loss of 0.29% and the S&P 500's gain of 0.75% in that time.
Investors will be hoping for strength from GLW as it approaches its next earnings release. On that day, GLW is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 104%. Our most recent consensus estimate is calling for quarterly revenue of $3.41 billion, up 31.69% from the year-ago period.
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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, GLW is holding a Forward P/E ratio of 20.32. This valuation marks a discount compared to its industry's average Forward P/E of 22.44.
Meanwhile, GLW's PEG ratio is currently 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. The Communication - Components industry currently 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 group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Corning Incorporated (GLW) : Free Stock Analysis Report
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