Corning, Inc. [GLW] stock is trading at $32.27, up 1.00%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The GLW shares have lost -0.31% over the last week, with a monthly amount drifted -1.89%, and not 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 April 08, 2024, when UBS reiterated its Neutral rating and also boosted its price target to $35 from $34. Previously, HSBC Securities downgraded its rating to Reduce on February 01, 2024, and kept the price target unchanged to $29. On October 25, 2023, downgrade downgraded it’s rating to Hold and revised its price target to $30 on the stock. JP Morgan downgraded its rating to a Neutral and decreased its price target to $36 on October 10, 2023. UBS downgraded its rating to a Neutral and raised its price target to $39 on July 14, 2023. Citigroup upgraded its rating to Buy for this stock on June 15, 2023, and upped its price target to $40. In a note dated June 09, 2023, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $35 to $38.
Corning, Inc. [GLW] stock has fluctuated between $25.26 and $36.01 over the past year. Currently, Wall Street analysts expect the stock to reach $47.5 within the next 12 months. Corning, Inc. [NYSE: GLW] shares were valued at $32.27 at the most recent close of the market. An investor can expect a potential return of 47.2% based on the average GLW price forecast.
Analyzing the GLW fundamentals
Corning, Inc. [NYSE:GLW] reported sales of 12.59B for the trailing twelve months, which represents a drop of -11.73%. Gross Profit Margin for this corporation currently stands at 0.31% with Operating Profit Margin at 0.05%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.07 and Total Capital is 0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.73.
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 32.02 points at the first support level, and at 31.78 for the second support level. However, for the 1st resistance point, the stock is sitting at 32.52, and for the 2nd resistance point, it is at 32.78.
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
For context, Corning, Inc.’s Current Ratio is 1.67. As well, the Quick Ratio is 1.05, while the Cash Ratio is 0.41. Considering the valuation of this stock, the price to sales ratio is 2.19, the price to book ratio is 2.29 and price to earnings (TTM) ratio is 47.74.
Transactions by insiders
Recent insider trading involved McRae Lawrence D, Retired Vice Chairman, that happened on Mar 21 ’24 when 77464.0 shares were sold. SVP &GM, Mobile Consumer Elec., Bayne John P JR completed a deal on Feb 29 ’24 to sell 4086.0 shares. Meanwhile, SVP, Corning Intl & NBD, Solar Fang Li sold 8480.0 shares on Feb 21 ’24.
