Corning, Inc (GLW) concluded trading on Wednesday at a closing price of $54.01, with 10.29 million shares of worth about $555.54 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 21.89% during that period and on January 22, 2025 the price saw a gain of about 4.77%. Currently the company’s common shares owned by public are about 814.00M shares, out of which, 779.20M shares are available for trading.
Stock saw a price change of 13.87% in past 5 days and over the past one month there was a price change of 16.13%. Year-to-date (YTD), GLW shares are showing a performance of 13.66% which increased to 77.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.30 but also hit the highest price of $52.03 during that period. The average intraday trading volume for Corning, Inc shares is 4.40 million. The stock is currently trading 11.82% above its 20-day simple moving average (SMA20), while that difference is up 12.09% for SMA50 and it goes to 28.18% higher than SMA200.
Corning, Inc (NYSE: GLW) currently have 814.00M outstanding shares and institutions hold larger chunk of about 72.42% of that.
The stock has a current market capitalization of $46.24B and its 3Y-monthly beta is at 1.03. PE ratio of stock for trailing 12 months is 302.07, while it has posted earnings per share of $0.18 in the same period. Its PEG reads 18.82 and has Quick Ratio of 1.05 while making debt-to-equity ratio of 0.75. 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 2.55% while standing at 1.87% over the month.
Analysts are in expectations that Corning, Inc (GLW) stock would likely to be making an EPS of 0.56 in the current quarter, while forecast for next quarter EPS is 0.49 and it is 2.31 for next year. For the current quarter EPS, analysts have given the company a lowest target 0.55 which is 0.57 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 0.39 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 14.79% while it is estimated to increase by 18.28% in next year. EPS is likely to grow at an annualized rate of 16.05% 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 Mizuho on August 21, 2024 offering an Outperform rating for the stock and assigned a target price range of between $44 and $47 to it. Coverage by Deutsche Bank stated Corning, Inc (GLW) stock as a Buy in their note to investors on July 31, 2024, suggesting a price target of $46 for the stock. On July 09, 2024, HSBC Securities Upgrade their recommendations, while on June 17, 2024, Fox Advisors Upgrade their ratings for the stock with a price target of $45. Stock get an Equal-weight rating from Morgan Stanley on June 13, 2024.
