A share price of Corning, Inc. [GLW] is currently trading at $43.05, up 11.99%. An important factor to consider is whether the stock is rising or falling in short-term value. The GLW shares have gain 10.81% over the last week, with a monthly amount glided 14.83%, and 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 June 17, 2024, when Fox Advisors upgraded its rating to a Overweight but kept the price target unchanged to $45 for it. Previously, Morgan Stanley downgraded its rating to Equal-Weight on June 13, 2024, and elevated its price target to $38. On May 30, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $43 on the stock. Mizuho started tracking the stock assigning a Neutral rating and suggested a price target of $36 on May 07, 2024. UBS reiterated its recommendation of a Neutral and raised its price target to $35 on April 08, 2024. HSBC Securities downgraded its rating to Reduce for this stock on February 01, 2024, but kept the price target unchanged to $29. In a note dated October 25, 2023, Deutsche Bank downgraded an Hold rating on this stock and revised its target price from $37 to $30.
Corning, Inc. experienced fluctuations in its stock price throughout the past year between $25.26 and $40.46. Currently, Wall Street analysts expect the stock to reach $44.13 within the next 12 months. Corning, Inc. [NYSE: GLW] shares were valued at $43.05 at the most recent close of the market. An investor can expect a potential return of 2.51% based on the average GLW price forecast.
Analyzing the GLW fundamentals
Trailing Twelve Months sales for Corning, Inc. [NYSE:GLW] were 12.38B which represents -6.39% 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 0.07%, and Net Profit Margin reading is 0.07%. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.67.
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 41.39 points at the first support level, and at 39.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 44.15, and for the 2nd resistance point, it is at 45.24.
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 1.02, and the Cash Ratio is 0.33. Considering the valuation of this stock, the price to sales ratio is 2.98, the price to book ratio is 3.14 and price to earnings (TTM) ratio is 60.34.
Transactions by insiders
Recent insider trading involved Evenson Jeffrey W, Exec. VP & Chief Strategy Off, that happened on Jun 05 ’24 when 12830.0 shares were sold. Senior VP & GM, Optical Comm., Bell Michael Alan completed a deal on May 14 ’24 to sell 20152.0 shares. Meanwhile, Senior Vice President & CDIO Seetharam Soumya sold 23291.0 shares on May 09 ’24.
