NEW YORK (TheStreet) -- Corning (GLW) - Get Report  stock is up by 6.87% to $17.89 in early afternoon trading on Tuesday after the company reported its 2015 fourth-quarter earnings.

Before the market open on Tuesday, the Corning, NY-based manufacturer of glass, ceramics, and related materials reported earnings of 34 cents per share, which topped analysts' forecasts for earnings of 32 cents per share.

Corning reported revenue of $2.4 billion during the quarter, which was slightly lower than analysts expectations for revenue of $2.45 billion.

LCD glass prices dropped moderately in the fourth quarter, but less than during the third quarter, the company added.

The decline in prices is expected to continue during the 2016 first quarter, which is expected be one of the lowest first-quarter price declines in five years, according to Corning.  

"We expect the first quarter to be the weakest of 2016, and we anticipate growth will recover in subsequent quarters," CFO R. Tony Tripeny said in a statement. "We are encouraged with the moderation of LCD glass price declines, and we expect this trend will continue into 2016. We are sustaining market leadership in all of our businesses."

TheStreet Recommends

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "buy" with a grade of B. The company's debt-to-equity ratio is very low at 0.20 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Additionally, Corning's he return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization.

You can view the full analysis from the report here: GLW

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