Corning Incorporated (NYSE:GLW) is set to announce second quarter earning results on Tuesday 28th July 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, GLW to report 2Q20 income of $ 0.12 per share.
For the full year, analysts anticipate top line of $ 10354.70 million, while looking forward to income of $ 1.08 per share bottom line.
Previous Quarter Performance
Corning Incorporated posted income for the first quarter of $ 0.20 per share, from the revenue of $ 2,529.00 million. The quarterly earnings declined 50.00 percent while revenues fell 11.26 percent compared with the same quarter last year.
According to street consensus, GLW was expected to report 1Q20 income of $ 0.18 per share from revenue of $ 2509.61 million. The bottom line results beat street analysts by $ 0.02 or 11.11 percent, at the same time, top line results outshined analysts by $ 19.39 million or 0.77 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of GLW was $ 30.63, representing a 75.63 % increase from the 52 week low of $ 17.44 and a 10.57 % decrease over the 52 week high of $ 34.25.
The company has a market capital of $ 23.31 billion and is part of the Technology sector and Electronic Components industry.
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Recent Analyst recommendations
- On 18th June 2020, maintained by JPMorgan Chase & Co. at Neutral rating, with $ 25.00 target price.
- On 10th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 26.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.22 per share on May 1, 2020. The dividend were payable on June 30, 2020 to holders of record as of the close of business on May 29, 2020 and ex-dividend date on May 28, 2020.
Conference Call
Corning Incorporated will be hosting a conference call at 8:30 AM eastern time on 28th July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.corning.com
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The companys Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors. Its Optical Communications segment manufactures optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for various carrier network applications.
