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Corning (GLW) Outpaces Stock Market Gains: What You Should Know
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Corning (GLW - Free Report) closed at $46.25 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily gain of 0.93%.
Heading into today, shares of the specialty glass maker had gained 12.42% over the past month, outpacing the Computer and Technology sector's gain of 8.56% and the S&P 500's gain of 5.84% in that time.
GLW will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2021. On that day, GLW is projected to report earnings of $0.42 per share, which would represent year-over-year growth of 110%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.13 billion, up 23.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.98 per share and revenue of $13.28 billion. These totals would mark changes of +42.45% and +15.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GLW. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.66% higher. GLW is currently a Zacks Rank #2 (Buy).
Investors should also note GLW's current valuation metrics, including its Forward P/E ratio of 23.22. For comparison, its industry has an average Forward P/E of 22.93, which means GLW is trading at a premium to the group.
Also, we should mention that GLW has a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GLW's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Corning (GLW) Outpaces Stock Market Gains: What You Should Know
Corning (GLW - Free Report) closed at $46.25 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily gain of 0.93%.
Heading into today, shares of the specialty glass maker had gained 12.42% over the past month, outpacing the Computer and Technology sector's gain of 8.56% and the S&P 500's gain of 5.84% in that time.
GLW will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2021. On that day, GLW is projected to report earnings of $0.42 per share, which would represent year-over-year growth of 110%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.13 billion, up 23.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.98 per share and revenue of $13.28 billion. These totals would mark changes of +42.45% and +15.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GLW. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.66% higher. GLW is currently a Zacks Rank #2 (Buy).
Investors should also note GLW's current valuation metrics, including its Forward P/E ratio of 23.22. For comparison, its industry has an average Forward P/E of 22.93, which means GLW is trading at a premium to the group.
Also, we should mention that GLW has a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GLW's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.