Corning Earnings Preview: Analysts Expect Rising Revenue, Falling EPS
Earnings and Revenue:
Analysts are looking ahead to a positive EPS of 42 cents/share and revenues of $2.02 billion. Corning's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 51 cents/share on revenues of $1.6 billion. We'll have to wait for Wednesday to see if Corning reports a decline in EPS and a boost in revenue from the year-ago quarter, as analysts are predicting.
Here's how the company's reported EPS has stacked up against analyst estimates in the past:
At last check, shares of Corning were trading at $14.29. Shares are down 25.4% year to date. For a full 12 months, the return has declined by 21.6%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.
- Long-term shareholders are already wary of 12-month losses prior to the announcement
Average Stock Rating:
The average rating by analysts for Corning is a Moderate Buy. The strength of this rating has crept upwards over the past three months.
Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Corning's peers.
- II-VI (NASDAQ: IIVI): Hold with a $0.34 recent quarter EPS
- 3M Company (NYSE: MMM): Moderate Buy with a $1.60 recent quarter EPS
- Newport (NASDAQ: NEWP): Hold with a $0.39 recent quarter EPS
- Owens Corning (NYSE: OC): Moderate Buy with a $0.61 recent quarter EPS
Corning is in the communications components industry, which has experienced price/earnings growth of 0.8%.
Finally, a description of the company's main areas of operation: Corning provides glass for LCD televisions, computer monitors, and other information display applications as well as optical fiber and cable products.
Now that you're fully prepared, get ready to take quick action if the company reports any numbers significantly different from those listed above. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.