Corning GLW announces its next round of earnings this Wednesday, July 27, 2011. Here's Benzinga's essential guide to Corning's second quarter earnings report.
Earnings and Revenue:
Wall Street expects a EPS of 47 cents per share and revenues of $1.97 billion. Wall Street will be looking to see how this quarter's numbers compare to the year-ago quarter's positive EPS of 58 cents per share on revenues of $1.71 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:
Quarter | Q1 | Q4 | Q3 | Q2 |
EPS Estimate | $0.44 | $0.47 | $0.52 | $0.53 |
EPS Actual | $0.47 | $0.46 | $0.51 | $0.58 |
Stock Performance:
Shares of Corning were trading at $17 as of July 21, 2011. Shares are down 11.6% year to date. For a full 12 months, the return has declined by 4.2%. 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 declined slightly over the past three months.Competitors:
Wondering how some of the other information technology companies are doing? Here are a few of Corning's peers in that sector.- 3M Company MMM: Moderate Buy with a $1.49 recent quarter EPS
- Newport NEWP: Moderate Buy with a $0.35 recent quarter EPS
- PPG Industries PPG: Hold with a $1.40 recent quarter EPS
- II-VI Incorporated (IIVI): Hold with a $0.36 recent quarter EPS
The communications components company's industry has seen price/earnings growth of 1.5% during the current fiscal year.
Finally, a description of the company's main areas of operation: Corning Inc. provides high-performance glass for LCD televisions, computer monitors, and other information display applications as well as optical fiber and cable products.
Take Action:
There is your peek into Corning's upcoming earnings numbers, including some competitors to watch around the time of the announcement. Check back in with us after the announcement for a full recap of the announcement. In the meantime, here are some links to explore today.
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