Corning, Inc. (GLW) concluded trading on Thursady at a closing price of $32.69, with 4.72 million shares of worth about $154.18 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.28% during that period and on Thursady the price saw a gain of about 1.36%. Currently the company’s common shares owned by public are about 820.00M shares, out of which, 770.73M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 158 times over the past 12 months. They bought 1,811,041 shares in 102 of the transactions. In 56 selling transactions, insiders dumped 1,254,004 shares.
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However, the stock later moved at a day high price of 32.72, or with a gain of 1.36%. Stock saw a price change of 2.96% in past 5 days and over the past one month there was a price change of 7.89%. Year-to-date (YTD), GLW shares are showing a performance of 7.36% which decreased to -5.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.26 but also hit the highest price of $36.01 during that period. The average intraday trading volume for Corning, Inc. shares is 4.68 million. The stock is currently trading 2.70% above its 20-day simple moving average (SMA20), while that difference is up 5.79% for SMA50 and it goes to 5.16% higher than SMA200.
Corning, Inc. (NYSE: GLW) currently have 820.00M outstanding shares and institutions hold larger chunk of about 70.86% of that.
The stock has a current market capitalization of $27.90B and its 3Y-monthly beta is at 1.08. PE ratio of stock for trailing 12 months is 48.37, while it has posted earnings per share of $0.68 in the same period. Its PEG reads 6.78 and has Quick Ratio of 1.05 while making debt-to-equity ratio of 0.73. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GLW, volatility over the week remained 1.63% while standing at 1.73% over the month.
Analysts are in expectations that Corning, Inc. (GLW) stock would likely to be making an EPS of $0.35 in the current quarter, while forecast for next quarter EPS is $0.44 and it is $2.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.34 which is $0.37 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.76% while it is estimated to increase by 14.30% in next year. EPS is likely to grow at an annualized rate of 7.13% for next 5-years, compared to annual growth of -9.80% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on February 01, 2024 offering a Reduce rating for the stock and assigned a target price of $29 to it. Coverage by Deutsche Bank stated Corning, Inc. (GLW) stock as a Hold in their note to investors on October 25, 2023, suggesting a price target of $30 for the stock. On October 10, 2023, JP Morgan Downgrade their recommendations, while on July 14, 2023, UBS Downgrade their ratings for the stock with a price target of $39. Stock get a Buy rating from Citigroup on June 15, 2023.
