A share price of Corning, Inc. [GLW] is currently trading at $30.98, up 0.19%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The GLW shares have lost -3.04% over the last week, with a monthly amount drifted -4.18%, and not seem to be holding up well over a long-time horizon.
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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. 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 $30.98 at the most recent close of the market. An investor can expect a potential return of 53.32% based on the average GLW price forecast.
Analyzing the GLW fundamentals
Trailing Twelve Months sales for Corning, Inc. [NYSE:GLW] were 12.59B which represents -11.73% decline. 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 30.81 points at the first support level, and at 30.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 31.30, and for the 2nd resistance point, it is at 31.61.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Corning, Inc. [NYSE:GLW] is 1.67. Also, the Quick Ratio is 1.05, while the Cash Ratio stands at 0.41. Considering the valuation of this stock, the price to sales ratio is 2.11, the price to book ratio is 2.20 and price to earnings (TTM) ratio is 45.84.
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.
