Corning Inc Stock Hold Recommendation Reiterated (GLW)
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- The revenue growth came in higher than the industry average of 7.5%. Since the same quarter one year prior, revenues rose by 13.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- GLW's debt-to-equity ratio is very low at 0.16 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 3.81, which clearly demonstrates the ability to cover short-term cash needs.
- Net operating cash flow has slightly increased to $1,240.00 million or 7.17% 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 7.66%.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed against the S&P 500 and did not exceed that of the Electronic Equipment, Instruments & Components industry. The net income has significantly decreased by 42.4% when compared to the same quarter one year ago, falling from $491.00 million to $283.00 million.
- 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. When compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market, CORNING INC's return on equity is below that of both the industry average and the S&P 500.
--Written by a member of TheStreet Ratings Staff. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE
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