Corning Inc. Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Corning, Inc. (NYSE:GLW) will unveil its latest earnings on Wednesday, January 25, 2012. Corning provides glass for LCD televisions, computer monitors, and other information display applications as well as optical fiber and cable products.

Corning, Inc. Earnings Preview Cheat Sheet.

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 32 cents per share, a decline of 30.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 43 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 33 cents during the last month. Analysts are projecting profit to rise by 15% versus last year to $1.76.

Past Earnings Performance: Last quarter, the company reported net income of 48 cents per share versus a mean estimate of profit of. The company has beaten estimates for the past three quarters.

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Wall St. Revenue Expectations: On average, analysts predict $1.84 billion in revenue this quarter, a rise of 4.5% from the year ago quarter. Analysts are forecasting total revenue of $7.85 billion for the year, a rise of 18.4% from last year’s revenue of $6.63 billion.

Analyst Ratings: 10 out of 18 analysts surveyed (55.6%) have a buy rating on Corning.. This is below the mean analyst rating of seven competitors, which average 64% buy ratings.

A Look Back: In the third quarter, profit rose 3.3% to $811 million (51 cents a share) from $785 million (50 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 29.5% to $2.08 billion from $1.6 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 21.4%, with the biggest boost coming in the most recent quarter when revenue rose 29.5% from the year earlier quarter.

The increase in profit in the third quarter broke a streak of two consecutive quarters of year-over-year profit decreases. The figure dropped 17.3% in the second quarter and 8.3% in the first quarter.

Competitors to Watch: PPG Industries, Inc. (NYSE:PPG), Research Frontiers, Inc. (NASDAQ:REFR), Newport Corporation (NASDAQ:NEWP), 3M Company (NYSE:MMM) and II-VI, Inc. (NASDAQ:IIVI).

Stock Price Performance: During December 19, 2011 to January 19, 2012, the stock price had risen $1.88 (15%) from $12.57 to $14.45. The stock price saw one of its best stretches over the last year between December 30, 2011 and January 11, 2012 when shares rose for eight-straight days, rising 10.3% (+$1.34) over that span. It saw one of its worst periods between March 25, 2011 and April 8, 2011 when shares fell for 11-straight days, falling 8.8% (-$1.86) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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