Analysts on Wall Street project that Corning (GLW) will announce quarterly earnings of $0.70 per share in its forthcoming report, representing an increase of 22.8% year over year. Revenues are projected to reach $4.32 billion, increasing 11.6% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Corning metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Net Sales- Display Technologies' should arrive at $880.85 million. The estimate suggests a change of -9.3% year over year.
Analysts expect 'Net Sales- Hemlock and Emerging Growth Businesses' to come in at $464.86 million. The estimate suggests a change of +24.6% year over year.
It is projected by analysts that the 'Net Sales- Specialty Materials' will reach $587.56 million. The estimate indicates a change of +14.1% from the prior-year quarter.
The consensus estimate for 'Net Sales- Life Sciences' stands at $249.13 million. The estimate indicates a year-over-year change of -0.4%.
The average prediction of analysts places 'Net Sales- Optical Communications' at $1.71 billion. The estimate points to a change of +24.8% from the year-ago quarter.
Analysts forecast 'Segment Net Income- Display Technologies' to reach $216.95 million. Compared to the current estimate, the company reported $262.00 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Segment Net Income- Life Sciences' should come in at $17.35 million. The estimate is in contrast to the year-ago figure of $18.00 million.
The combined assessment of analysts suggests that 'Segment Net Income- Optical Communications' will likely reach $261.29 million. The estimate compares to the year-ago value of $194.00 million.
Analysts' assessment points toward 'Segment Net Income- Specialty Materials' reaching $98.80 million. The estimate compares to the year-ago value of $81.00 million.
View all Key Company Metrics for Corning here>>>
Over the past month, shares of Corning have returned +5.2% versus the Zacks S&P 500 composite's +0.6% change. Currently, GLW carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Corning Incorporated (GLW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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