A share price of Corning, Inc. [GLW] is currently trading at $32.69, up 1.36%. An important factor to consider is whether the stock is rising or falling in short-term value. The GLW shares have gain 2.96% over the last week, with a monthly amount glided 7.89%, and seem to be holding up well over a long-time horizon.
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On 7, February 2024, Corning Announces Quarterly Dividend. In a post published today on Yahoo Finance, Corning Incorporated’s (NYSE: GLW) Board of Directors today declared a quarterly dividend of $0.28 per share. The dividend will be payable on March 28, 2024, to shareholders of record on Feb. 29, 2024.
From an analyst’s perspective:
Corning, Inc. [NYSE: GLW] stock has seen the most recent analyst activity on February 01, 2024, when HSBC Securities downgraded its rating to a Reduce but kept the price target unchanged to $29 for it. Previously, Deutsche Bank downgraded its rating to Hold on October 25, 2023, and dropped its price target to $30. On October 10, 2023, downgrade downgraded it’s rating to Neutral and revised its price target to $36 on the stock. UBS downgraded its rating to a Neutral and increased its price target to $39 on July 14, 2023. Citigroup upgraded its rating to a Buy and raised its price target to $40 on June 15, 2023. Morgan Stanley upgraded its rating to Overweight for this stock on June 09, 2023, and upped its price target to $38. In a note dated March 27, 2023, Deutsche Bank upgraded an Buy rating on this stock and boosted its target price from $35 to $38.
Corning, Inc. experienced fluctuations in its stock price throughout the past year between $25.26 and $36.01. Currently, Wall Street analysts expect the stock to reach $47.5 within the next 12 months. Corning, Inc. [NYSE: GLW] shares were valued at $32.69 at the most recent close of the market. An investor can expect a potential return of 45.3% based on the average GLW price forecast.
Analyzing the GLW fundamentals
Trailing Twelve Months sales for Corning, Inc. [NYSE:GLW] were 12.31B which represents -19.93% decline. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 32.28 points at the first support level, and at 31.87 for the second support level. However, for the 1st resistance point, the stock is sitting at 32.91, and for the 2nd resistance point, it is at 33.13.
Corning, Inc. [GLW] reported earnings per share of $0.39 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.39/share, meaning a difference of $0 and a surprise factor of 0.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.45 per share as compared to estimates of $0.47 per share, a difference of -$0.02 representing a surprise of -4.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Corning, Inc. [NYSE:GLW] is 1.67. On the other hand, the Quick Ratio is 1.05, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 2.27, the price to book ratio is 2.32 and price to earnings (TTM) ratio is 48.37.
Transactions by insiders
Recent insider trading involved Amin Jaymin, SVP and Chief Tech. Officer, that happened on Feb 16 when 28231.0 shares were sold. Exec. VP & Innovation Officer, Curran Martin J completed a deal on Feb 16 to sell 6353.0 shares. Meanwhile, SVP&GM Display & Corning Asia Zhang John Z sold 6607.0 shares on Feb 15.
