UBS Maintains Corning Incorporated to Neutral with Price Target $21.50

Brokerage firm UBS Maintains its rating on Corning Incorporated(NYSE:GLW). In a research note issued to the investors, the brokerage major Raises the price-target to $21.50 per share. The shares have been rated Neutral. The rating by UBS was issued on Jul 28, 2016.

In a different note, Citigroup said it Initiates Coverage on Corning Incorporated, according to a research note issued on Jun 20, 2016. The shares have been rated ‘Buy’ by the firm. On Jun 13, 2016, Standpoint Research said it Downgrades its rating on Corning Incorporated. The shares have been rated ‘Hold’ by the firm. On Jun 10, 2016, Drexel Hamilton said it Downgrades its rating on Corning Incorporated. The shares have been rated ‘Sell’ by the firm.

Corning Incorporated (GLW) made into the market gainers list on Thursdays trading session with the shares advancing 0.81% or 0.18 points. Due to strong positive momentum, the stock ended at $22.38, which is also near the day’s high of $22.49. The stock began the session at $22.16 and the volume stood at 77,28,491 shares. The 52-week high of the shares is $22.62 and the 52 week low is $15.42. The company has a current market capitalization of $23,205 M and it has 1,03,68,77,160 shares in outstanding.

Corning Incorporated has also declared a cash dividend of $0.1350 on Jul 20, 2016. The shares will quote ex-dividend on Aug 29, 2016 and the record date has been fixed on Aug 31, 2016. The dividend payable date has been fixed on Sep 30, 2016.

Corning Incorporated(GLW) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.44B. Analysts had an estimated revenue of $2.38B. Earnings per share were $0.37. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, R Tony Tripeny (Senior Vice President and CFO) sold 7,500 shares at $21.17 per share price.Also, On Jun 8, 2016, Mark S Rogus (Senior VP & Treasurer) sold 10,896 shares at $21.18 per share price.On May 25, 2016, Clark S Kinlin (Executive Vice President) sold 54,352 shares at $19.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics mobile emissions control optical communications and life sciences. Corning operates in five segments: Display Technologies which manufactures glass substrates; Optical Communications which is engaged in providing optical solutions; Environmental Technologies which manufactures ceramic substrates and filter products; Specialty Materials which manufactures products that provide more than 150 material formulations for glass glass ceramics and fluoride crystals and Life Sciences segment which is a developer manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.

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