Currently, there are 820.00M common shares owned by the public and among those 775.89M shares have been available to trade.
The company’s stock has a 5-day price change of -3.57% and 24.91% over the past three months. GLW shares are trading 55.27% year to date (YTD), with the 12-month market performance up to 69.28% higher. It has a 12-month low price of $26.94 and touched a high of $51.03 over the same period. GLW has an average intraday trading volume of 4.59 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 0.66%, 5.71%, and 24.17% respectively.
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Institutional ownership of Corning, Inc (NYSE: GLW) shares accounts for 74.12% of the company’s 820.00M shares outstanding.
It has a market capitalization of $40.48B and a beta (3y monthly) value of 1.04. The stock’s trailing 12-month PE ratio is 264.43, while the earnings-per-share (ttm) stands at $0.18. The company has a PEG of 16.47 and a Quick Ratio of 1.05 with the debt-to-equity ratio at 0.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.45% over the week and 2.38% over the month.
Earnings per share for the fiscal year are expected to increase by 14.70%, and 18.51% over the next financial year. EPS should grow at an annualized rate of 16.05% 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. Mizuho stated their Outperform rating for the stock in a research note on August 21, 2024, with the firm’s price target at $44-$47. Deutsche Bank coverage for the Corning, Inc (GLW) stock in a research note released on July 31, 2024 offered a Buy rating with a price target of $46. HSBC Securities was of a view on July 09, 2024 that the stock is Hold, while Fox Advisors gave the stock Overweight rating on June 17, 2024, issuing a price target of $45. Morgan Stanley on their part issued Equal-Weight rating on June 13, 2024.
