Corning, Inc. (NYSE: GLW) has a price-to-earnings ratio that is above its average at 80.84x. The stock has a 36-month beta value of 1.03. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 3 as “overweight,” 8 as “hold,” and 2 as “sell.”
The public float for GLW is 776.02M, and at present, short sellers hold a 1.53% of that float. On September 10, 2024, the average trading volume of GLW was 7.94M shares.
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GLW) stock’s latest price update
Corning, Inc. (NYSE: GLW)’s stock price has soared by 0.81 in relation to previous closing price of 40.64. Nevertheless, the company has seen a loss of -2.10% in its stock price over the last five trading days. globenewswire.com reported 2024-09-05 that CORNING, N.Y., Sept. 05, 2024 (GLOBE NEWSWIRE) — Corning Energy Corporation (formerly Corning Natural Gas Holding Corporation) announced today that Michael German, the company’s CEO, will retire effective December 31, 2024, after 18 years with the company and 48 total years in the energy sector.
GLW’s Market Performance
Corning, Inc. (GLW) has experienced a -2.10% fall in stock performance for the past week, with a 6.11% rise in the past month, and a 10.94% rise in the past quarter. The volatility ratio for the week is 2.33%, and the volatility levels for the past 30 days are at 1.81% for GLW. The simple moving average for the past 20 days is 0.06% for GLW’s stock, with a 17.75% simple moving average for the past 200 days.
Analysts’ Opinion of GLW
Many brokerage firms have already submitted their reports for GLW stocks, with Mizuho repeating the rating for GLW by listing it as a “Outperform.” The predicted price for GLW in the upcoming period, according to Mizuho is $47 based on the research report published on August 21, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see GLW reach a price target of $46. The rating they have provided for GLW stocks is “Buy” according to the report published on July 31st, 2024.
HSBC Securities gave a rating of “Hold” to GLW, setting the target price at $37 in the report published on July 09th of the current year.
GLW Trading at -1.19% 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 -11.68% of loss for the given period.
Volatility was left at 1.81%, however, over the last 30 days, the volatility rate increased by 2.33%, as shares surge +6.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.17% upper at present.
During the last 5 trading sessions, GLW fell by -2.10%, which changed the moving average for the period of 200-days by +44.82% in comparison to the 20-day moving average, which settled at $41.07. In addition, Corning, Inc. saw 34.55% 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 Bayne John P JR, who proposed sale 5,000 shares at the price of $40.65 back on Sep 06 ’24. After this action, Bayne John P JR now owns shares of Corning, Inc., valued at $203,250 using the latest closing price.
Bayne John P JR, the Retired Senior Vice President of Corning, Inc., sale 7,774 shares at $42.03 during a trade that took place back on Aug 27 ’24, which means that Bayne John P JR is holding 1,042 shares at $326,741 based on the most recent closing price.
Stock Fundamentals for GLW
Current profitability levels for the company are sitting at:
- 0.07 for the present operating margin
- 0.31 for the gross margin
The net margin for Corning, Inc. stands at 0.04. The total capital return value is set at 0.04. Equity return is now at value 3.97, with 1.57 for asset returns.
Based on Corning, Inc. (GLW), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.28. The debt to equity ratio resting at 0.7. The interest coverage ratio of the stock is -184.2.
Currently, EBITDA for the company is 890.0 million with net debt to EBITDA at 4.25. When we switch over and look at the enterprise to sales, we see a ratio of 3.38. The receivables turnover for the company is 7.2for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.57.
Conclusion
To sum up, Corning, Inc. (GLW) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
