Currently, there are 820.00M common shares owned by the public and among those 770.78M shares have been available to trade.
The company’s stock has a 5-day price change of -1.73% and 5.76% over the past three months. GLW shares are trading 6.17% year to date (YTD), with the 12-month market performance down to -3.00% lower. It has a 12-month low price of $25.26 and touched a high of $36.01 over the same period. GLW has an average intraday trading volume of 4.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.69%, 1.82%, and 3.59% respectively.
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Institutional ownership of Corning, Inc. (NYSE: GLW) shares accounts for 70.85% of the company’s 820.00M shares outstanding.
It has a market capitalization of $27.59B and a beta (3y monthly) value of 1.08. The stock’s trailing 12-month PE ratio is 47.83, while the earnings-per-share (ttm) stands at $0.68. The company has a PEG of 6.70 and a Quick Ratio of 1.05 with the debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.17% over the week and 1.56% over the month.
Analysts forecast that Corning, Inc. (GLW) will achieve an EPS of $0.35 for the current quarter, $0.44 for the next quarter and $2.16 for 2025. The lowest estimate earnings-per-share for the quarter is $0.34 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 9.76%, and 14.30% over the next financial year. EPS should grow at an annualized rate of 7.13% over the next five years, compared to -9.80% over the past 5-year period.
Looking at the support for the GLW, a number of firms have released research notes about the stock. HSBC Securities stated their Reduce rating for the stock in a research note on February 01, 2024, with the firm’s price target at $29. Deutsche Bank coverage for the Corning, Inc. (GLW) stock in a research note released on October 25, 2023 offered a Hold rating with a price target of $30. JP Morgan was of a view on October 10, 2023 that the stock is Neutral, while UBS gave the stock Neutral rating on July 14, 2023, issuing a price target of $38- $39. Citigroup on their part issued Buy rating on June 15, 2023.
