The price-to-earnings ratio for Corning, Inc. (NYSE: GLW) is above average at 47.26x. The 36-month beta value for GLW is also noteworthy at 1.06. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 8 rating it as “hold,” and 2 rating it as “sell.”
The public float for GLW is 773.52M, and at present, short sellers hold a 1.56% of that float. The average trading volume of GLW on May 06, 2024 was 4.65M shares.
GLW) stock’s latest price update
Corning, Inc. (NYSE: GLW)’s stock price has plunge by 0.45relation to previous closing price of 33.57. Nevertheless, the company has seen a 7.63% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-01 that The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here’s why you should take advantage.
GLW’s Market Performance
Corning, Inc. (GLW) has seen a 7.63% rise in stock performance for the week, with a 4.17% gain in the past month and a 4.56% surge in the past quarter. The volatility ratio for the week is 2.52%, and the volatility levels for the past 30 days are at 1.81% for GLW. The simple moving average for the last 20 days is 5.73% for GLW stock, with a simple moving average of 8.95% for the last 200 days.
Analysts’ Opinion of GLW
Many brokerage firms have already submitted their reports for GLW stocks, with UBS repeating the rating for GLW by listing it as a “Neutral.” The predicted price for GLW in the upcoming period, according to UBS is $35 based on the research report published on April 08, 2024 of the current year 2024.
HSBC Securities, on the other hand, stated in their research note that they expect to see GLW reach a price target of $29. The rating they have provided for GLW stocks is “Reduce” according to the report published on February 01st, 2024.
Deutsche Bank gave a rating of “Hold” to GLW, setting the target price at $30 in the report published on October 25th of the previous year.
GLW Trading at 4.29% from the 50-Day Moving Average
After a stumble in the market that brought GLW to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.37% of loss for the given period.
Volatility was left at 1.81%, however, over the last 30 days, the volatility rate increased by 2.52%, as shares surge +3.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.15% upper at present.
During the last 5 trading sessions, GLW rose by +7.63%, which changed the moving average for the period of 200-days by +0.36% in comparison to the 20-day moving average, which settled at $31.95. In addition, Corning, Inc. saw 10.74% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GLW starting from Zhang John Z, who sale 12,546 shares at the price of $33.42 back on May 02 ’24. After this action, Zhang John Z now owns 11,355 shares of Corning, Inc., valued at $419,302 using the latest closing price.
STEVERSON LEWIS A, the EVP and CLAO of Corning, Inc., sale 29,978 shares at $33.05 during a trade that took place back on May 01 ’24, which means that STEVERSON LEWIS A is holding 31,294 shares at $990,644 based on the most recent closing price.
Stock Fundamentals for GLW
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.31 for the gross margin
The net margin for Corning, Inc. stands at 0.07. The total capital return value is set at 0.03. Equity return is now at value 5.30, with 2.18 for asset returns.
Based on Corning, Inc. (GLW), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.29. The debt to equity ratio resting at 0.67. The interest coverage ratio of the stock is -3.61.
Currently, EBITDA for the company is 890.0 million with net debt to EBITDA at 5.85. When we switch over and look at the enterprise to sales, we see a ratio of 2.89. The receivables turnover for the company is 7.64for trailing twelve months and the total asset turnover is 0.45. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.67.
Conclusion
In summary, Corning, Inc. (GLW) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
