Currently, there are 820.00M common shares owned by the public and among those 773.76M shares have been available to trade.
The company’s stock has a 5-day price change of 18.68% and 41.37% over the past three months. GLW shares are trading 49.82% year to date (YTD), with the 12-month market performance up to 28.29% higher. It has a 12-month low price of $25.26 and touched a high of $45.87 over the same period. GLW has an average intraday trading volume of 7.07 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 14.08%, 22.31%, and 41.94% respectively.
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Institutional ownership of Corning, Inc. (NYSE: GLW) shares accounts for 71.62% of the company’s 820.00M shares outstanding.
It has a market capitalization of $39.08B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 63.94, while the earnings-per-share (ttm) stands at $0.71. The company has a PEG of 4.68 and a Quick Ratio of 1.02 with the debt-to-equity ratio at 0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.37% over the week and 2.46% over the month.
Earnings per share for the fiscal year are expected to increase by 13.87%, and 18.04% over the next financial year. EPS should grow at an annualized rate of 13.65% 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 Hold rating for the stock in a research note on July 09, 2024, with the firm’s price target at $37. Fox Advisors coverage for the Corning, Inc. (GLW) stock in a research note released on June 17, 2024 offered a Overweight rating with a price target of $45. Morgan Stanley was of a view on June 13, 2024 that the stock is Equal-Weight, while JP Morgan gave the stock Overweight rating on May 30, 2024, issuing a price target of $37- $43. Mizuho on their part issued Neutral rating on May 07, 2024.
