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Why Corning Incorporated (GLW) Could Beat Earnings Estimates Again
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider Corning Incorporated (GLW - Free Report) , a firm in the Communication – Components space, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, GLW has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, GLW expected to earn 32 cents per share, while it actually earned 37 cents per share, a beat of 15.6%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 38 cents per share, when it actually saw earnings of 42 cents per share instead, representing a 10.5% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Corning Incorporated. In fact, the Earnings ESP for GLW is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for GLW, as the firm currently has a Zacks Earnings ESP of 2.33%, so another beat could be around the corner.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that GLW could see another beat at its next report, especially if recent trends are any guide.
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Why Corning Incorporated (GLW) Could Beat Earnings Estimates Again
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Corning Incorporated (GLW - Free Report) , a firm in the Communication – Components space, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, GLW has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, GLW expected to earn 32 cents per share, while it actually earned 37 cents per share, a beat of 15.6%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 38 cents per share, when it actually saw earnings of 42 cents per share instead, representing a 10.5% positive surprise.
CORNING INC Price and EPS Surprise
CORNING INC Price and EPS Surprise | CORNING INC Quote
Thanks in part to this history, recent estimates have been moving higher for Corning Incorporated. In fact, the Earnings ESP for GLW is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for GLW, as the firm currently has a Zacks Earnings ESP of 2.33%, so another beat could be around the corner.
This is particularly true when you consider that GLW has a Zacks Rank #3 (Hold) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that GLW could see another beat at its next report, especially if recent trends are any guide.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now.Click here >>