At the time of writing, Corning, Inc. [GLW] stock is trading at $45.29, up 1.43%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The GLW shares have gain 4.60% over the last week, with a monthly amount glided 7.99%, 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 August 21, 2024, when Mizuho upgraded its rating to a Outperform and also boosted its price target to $47 from $44. Previously, Deutsche Bank upgraded its rating to Buy on July 31, 2024, and kept the price target unchanged to $46. On July 09, 2024, upgrade upgraded it’s rating to Hold but maintained its price target of $37 on the stock. Fox Advisors upgraded its rating to a Overweight but stick to its price target of $45 on June 17, 2024. Morgan Stanley downgraded its rating to a Equal-Weight and raised its price target to $38 on June 13, 2024. JP Morgan upgraded its rating to Overweight for this stock on May 30, 2024, and upped its price target to $43. In a note dated May 07, 2024, Mizuho initiated an Neutral rating and provided a target price of $36 on this stock.
For the past year, the stock price of Corning, Inc. fluctuated between $25.26 and $46.39. Currently, Wall Street analysts expect the stock to reach $48.17 within the next 12 months. Corning, Inc. [NYSE: GLW] shares were valued at $45.29 at the most recent close of the market. An investor can expect a potential return of 6.36% based on the average GLW price forecast.
Analyzing the GLW fundamentals
According to Corning, Inc. [NYSE:GLW], the company’s sales were 12.39B for trailing twelve months, which represents an 0.25% jump. Gross Profit Margin for this corporation currently stands at 0.31% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.05%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.04 and Total Capital is 0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.7.
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 44.73 points at the first support level, and at 44.18 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.72, and for the 2nd resistance point, it is at 46.16.
Ratios To Look Out For
It is important to note that Corning, Inc. [NYSE:GLW] has a current ratio of 1.57. Further, the Quick Ratio stands at 0.98, while the Cash Ratio is 0.31. Considering the valuation of this stock, the price to sales ratio is 3.13, the price to book ratio is 3.49 and price to earnings (TTM) ratio is 89.36.
Transactions by insiders
Recent insider trading involved Bayne John P JR, Retired Senior Vice President, that happened on Sep 13 ’24 when 5000.0 shares were sold. affiliate, Bayne John P JR completed a deal on Sep 06 ’24 to buy 5000.0 shares. Meanwhile, Retired Senior Vice President Bayne John P JR sold 7774.0 shares on Aug 27 ’24.
