Corning is a rather strange company - strange in that most of the people in the world are using their products, and yet most have never heard of "Corning"!
Regardless of whether you are using an iPhone, an iPad, a Samsung smartphone, or Samsung tablet, all uses a Corning product, called Gorilla Glass. Corning basically has a big chunk of the market in the glasses for smartphones and tablets! Not only that, it also has a growing optical fibre networking and life science business.
Company Profile:
Corning Incorporated (US stock quote GLW) manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment manufactures glass substrates for active matrix liquid crystal displays (LCDs) that are used primarily in notebook computers, flat panel desktop monitors, and LCD televisions. The Optical Communications segment manufactures optical fiber and cable, and hardware and equipment products comprising cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary, and gasoline and diesel applications. The Specialty Materials segment manufactures products that provide approximately 150 material formulations for glass, glass ceramics, and fluoride crystals. The Life Sciences segment develops, manufactures, and supplies scientific laboratory products, such as general labware and equipment, as well as specialty surfaces, media, and reagents for cell culture research, bioprocessing, genomics, drug discovery, microbiology, and chemistry. This segment also develops and produces various technologies, including the Corning Epic technology for screening; the Corning HYPER platform of vessels for cell yields; Corning Microcarriers for cell scale-up, therapy, and vaccine applications; Corning CellBIND, Matrigel, BioCoat, and Synthemax II surfaces; and Corning stemgro media. Corning Incorporated has strategic collaboration agreement with World Kitchen, LLC.
Financials & Outlook:
Last traded = US$20.92
Market Capital = US$27.02
Current P/E = 23.18
P/S = 3.03
Dividend Yield = 1.94%
Beta = 1.63
Debt/Equity = 0.19
P/B = 1.38
P/Cash = 4.52
P/FCF = 10.15
ROE = 6.1%
Profit Margin = 14.3%
Div Payout ratio = 44.4%
The technicals show strong support at about US$14 (BUT doesn't mean the stock will fall to this price).
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