Corning Inc Stock Hold Recommendation Reiterated (GLW)
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- GLW's debt-to-equity ratio is very low at 0.15 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.97, which clearly demonstrates the ability to cover short-term cash needs.
- The gross profit margin for CORNING INC is rather high; currently it is at 54.30%. Regardless of GLW's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, GLW's net profit margin of 24.20% significantly outperformed against the industry.
- Net operating cash flow has slightly increased to $570.00 million or 4.39% when compared to the same quarter last year. Despite an increase in cash flow, CORNING INC's average is still marginally south of the industry average growth rate of 12.33%.
- Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market on the basis of return on equity, CORNING INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- CORNING INC's earnings per share declined by 36.2% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, CORNING INC reported lower earnings of $1.76 versus $2.26 in the prior year. For the next year, the market is expecting a contraction of 28.4% in earnings ($1.26 versus $1.76).
--Written by a member of TheStreet Ratings Staff. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free Download Now
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