* Corning Inc reported quarterly adjusted earnings of 38 cents per share for the quarter ended in January, lower than the same quarter last year, when the company reported EPS of 41 cents. The mean expectation of eleven analysts for the quarter was for earnings of 35 cents per share. Wall Street expected results to range from 34 cents to 37 cents per share.
* Revenue fell 3.2% to $3.26 billion from a year ago; analysts expected $3.12 billion.
* Corning Inc's reported EPS for the quarter was 24 cents.
* The company reported quarterly net income of $209 million.
* Corning Inc shares had fallen by 3.6% this quarter and gained 4.4% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 3.9% in the last three months.
* In the last 30 days, one analyst negatively revised an earnings estimate
RECOMMENDATIONS
* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 6 "hold" and 1 "sell" or "strong sell."
* The average consensus recommendation for the electronic equipment & parts peer group is also "buy"
Wall Street's median 12-month price target for Corning Inc is $35.00 This summary was machine generated from LSEG data April 30 at 02:22 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Mar. 31 2024 0.35 0.38 Beat
Dec. 31 2023 0.39 0.39 Met
Sep. 30 2023 0.47 0.45 Missed
Jun. 30 2023 0.46 0.45 Missed
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