Corning's New $4 Billion Opportunity
Corning Incorporated (NYSE: GLW) recently reported its second quarter earnings and even a cursory glance at the results show healthy growth in nearly every meaningful metric. The company's core sales increased to $2.6 billion, a 6% increase year over year, and its core EPS increased to $0.42, a 14% increase over 2016's second quarter. While the stock price immediately dipped after Corning reported earnings, long term, buy-and-hold investors know to focus on a business's underlying fundamentals, not short term price volatility. Besides, shares are still up more than 20% year-to-date.
Like last quarter, Corning's two fastest growing divisions boosted the company's growth. Corning's Specialty Materials division, responsible for manufacturing Gorilla Glass, saw sales increase to $337 million, a 27% increase year-over-year. The company's Optical Communications division, which supplies optical fiber solutions to telecom carriers and internet service providers, saw core earnings rise 26% over last year's second quarter results.
Data source: Corning Inc.
Source: Fool.com
Corning Inc. Stock
With 33 Buy predictions and 2 Sell predictions Corning Inc. is one of the favorites of our community.
With a target price of 46 € there is a slightly positive potential of 10.79% for Corning Inc. compared to the current price of 41.52 €.
