Corning, Inc (GLW) Shares Down Despite Recent Market Volatility

The stock price of Corning, Inc (NYSE: GLW) has plunged by -0.11 when compared to previous closing price of 46.49, but the company has seen a -5.07% decline in its stock price over the last five trading sessions. https://247wallst.com reported 2024-11-12 that After struggling for years, shares of Lumen Technologies (NYSE: LUMN) skyrocketed in 2024, more than doubling through the first three quarters of the year. But as the company continues operating with a negative price-to-earnings (P/E) ratio, there are lingering concerns about the tech company’s future prospects. Founded in 1968, Lumen Technologies has been around a long time, so it was a surprise to some that stock was recently at risk of being delisted from the New York Stock Exchange when in 2023, its price per share briefly dipped under $1.00 on Nov. 1, 2023. Those struggles continued into 2024, but by mid-summer, the stock surged when demand for its high-speed fiber-network solutions began to grow. The company recently secured deals with Microsoft Corporation (NASDAQ: MSFT) and other leading tech companies, like Corning Inc. (NYSE: GLW), that are requiring increased connectivity between their data centers because of the explosive growth of artificial intelligence (AI). But after posting positive earnings to end FY 2022 and and repeat that success in the first two quarters of 2023 — including a sizable beat on earnings per share (EPS) of 43 cents to analysts’ expectations of 23 cents in Q4 of 2022 — Lumen has gone on to post negative EPS in four of the following five quarters as the company’s revenues have fallen steadily over the same period. So 24/7 Wall Street performed analysis to determine if the company is fundamentally flawed, or if AI demand and strategic partnerships will be enough to see its stock continue on its bull run. Key Points in This Article: Lumen Technologies’ net income losses were enormous last year, but on a trailing 12-month basis, there is a different story emerging that could suggest a turnaround of the company’s income statement. The company’s P/E ratio has been in negative territory six out of the past seven years, but the shift towards auxiliary AI services may right the ship. If you’re looking for a mega trend with massive potential, make sure to grab a complimentary copy of our “The Next NVIDIA” report. This report breaks down AI stocks with 10x potential and will give you a huge leg up in profiting from this massive sea change. Lumen Technologies’ Recent Stock Success From July 1, 2024, to Sept. 30, 2024, shares of LUMN went on a tear. The stock, which was trading at just $1.11 at the start of the third quarter of 2024, surged 540% by the end of Q3. That was quite the reversal given how the stock has slid 86.49% since hitting its all-time high of $49.45 on June 1, 2007. But market drivers are far different today than they were then, and with the emphasis on AI development, Lumen Technologies’ stock is on a bounce back after falling -11.69% over the past five years: Year Share Price Revenue* Net Income* 2014 $39.70 $18.031 $0.851 2015 $25.87 $17.900 $0.795 2016 $24.12 $17.470 $0.744 2017 $16.99 $17.656 $0.356 2018 $14.90 $23.433 $0.964 2019 $13.42 $22.401 $5.157 2020 $9.75 $20.712 $1.351 2021 $12.55 $19.687 $2.019 2022 $5.22 $17.478 $1.713 2023 $1.83 $14.557 $7.334 *Revenue and net income in $billions Over the course of the last decade, Lumen’s revenue decreased by more than 19% while net income gained by over 761.81%. As the company battled through its dated infrastructure and a significant debt load — shares fell significantly from $39.70 in 2014 to $1.83 in 2023. However, Lumen has been able to better balance its books, with total assets and total liabilities nearly aligned in 2023 to the tune of $34.02 billion and $33.57 billion, respectively. As the 56-year-old tech company looks forward to the second half of the decade, 24/7 Wall Street has identified three key drivers that are likely to positively impact Lumen Technologies’ growth metrics and stock performance through 2030. Key Drivers of Lumen Technologies’ Stock Performance 1. Strategic Partnerships With Tech Giants: The aforementioned strategic partnerships with Microsoft, the second-largest publicly traded company by market cap at $3.096 trillion, and Corning with its $36.16 billion market cap, should position Lumen for increased revenues and earnings for the foreseeable future. The partnership, announced in early August 2024, will result in Lumen more than doubling its total intercity network miles in order to unlock the next phases and capabilities of AI for cloud data centers (like Microsoft’s), enterprises and public agencies. According to the company’s press release, Lumen expects the deal with Microsoft to improve its cash flow by more than $20 million over the next 12 months. 2. Debt Restructuring: In March 2024, the company announced it had successfully extended its debt maturities, closing an approximately $1 billion revolving credit line maturing in June 2028 and completing the private placement of $1.325 billion due in November 2029. These efforts should free up funds and allow the company to address capital expenditures that will enable it to address the demands of the previously discussed strategic partnerships with Microsoft and Corning. 3. Insider Activity: While insider trading is never an absolute indication of growth, following the money can suggest what company executives’ sentiment is. And over the past 12 months, Lumen Technologies’ insiders have been doing far more buying than they have been selling. In fact, inside buyers have purchased a total of 12,924,936 million shares versus insider sellers offloading just 2,913,990. Put differently, the leadership at Lumen has out out-purchased sellers by more than 343% over the past year. Lumen Technologies (LUMN) Price Prediction in 2025 According to analysts, the current consensus median one-year price target for Lumen Technologies is $4.00, which represents more than 60.51% downside potential over the next 12 months given the current price per share of $10.13. Of 12 analysts covering LUMN, nine rate the stock as a ‘Hold,’ with the consensus rating being 3.15 on a scale from 1 (‘Strong Buy’) to 5 (‘Strong Sell’). By the end of 2025, 24/7 Wall Street‘s forecast for shares of LUMN is higher at $6.30, which only represents a downside potential of -37.80%, based on an annualized EPS of -46 cents. Lumen Technologies (LUMN) Stock Forecast Through 2030 Year Revenue* EPS 2025 $12.407 -$0.46 cents 2026 $12.229 -$0.26 cents 2027 $12.369 $0.05 cents 2028 $12.473 $0.39 cents 2029 $12.862 $0.38 cents 2030 $13.070 $0.69 cents *Revenue in $billions How Lumen Technologies’ Next Five Years Could Play Out By the end of 2025, 24/7 Wall Street‘s forecast for shares of LUMN is higher at $6.30, which only represents a downside potential of -37.80%, based on an annualized EPS of -46 cents. However, beginning in 2027 and continuing through 2030, we expect LUMN to post positive EPS growing from 5 cents to 59 cents based on revenue growth from $12.369 billion in 2027 to $13.070 billion in 2030. Lumen Technologies’ Price Target for 2030 By the conclusion of 2030, 24/7 Wall Street estimates that Lumen Technologies stock will be trading for $7.40 per share. Year Price Target 2025 $6.30 2026 $6.20 2027 $6.50 2028 $6.70 2029 $7.10 2030 $7.40 The #1 Thing to Do Before You Claim Social Security (Sponsor) Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation. A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes. Have questions about retirement or personal finance? Email us at Retire@247wallst.com! By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on 247wallst.com. By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties. The post Lumen Technologies (LUMN) Price Prediction and Forecast 2025-2030 appeared first on 24/7 Wall St..

Is It Worth Investing in Corning, Inc (NYSE: GLW) Right Now?

Corning, Inc (NYSE: GLW) has a higher price-to-earnings ratio of 259.73x compared to its average ratio, The 36-month beta value for GLW is at 1.03. Analysts have varying views on the stock, with 7 analysts rating it as a “buy,” 3 rating it as “overweight,” 8 as “hold,” and 2 as “sell.”

The public float for GLW is 776.05M, and currently, shorts hold a 1.29% of that float. The average trading volume for GLW on November 19, 2024 was 4.44M shares.

GLW’s Market Performance

GLW stock saw a decrease of -5.07% in the past week, with a monthly decline of -0.47% and a quarterly a decrease of 14.02%. The volatility ratio for the week is 1.84%, and the volatility levels for the last 30 days are 2.06% for Corning, Inc (GLW). The simple moving average for the past 20 days is -2.34% for GLW’s stock, with a 19.67% 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 1.29% 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 -8.99% of loss for the given period.

Volatility was left at 2.06%, however, over the last 30 days, the volatility rate increased by 1.84%, as shares sank -1.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.35% upper at present.

During the last 5 trading sessions, GLW fell by -5.07%, which changed the moving average for the period of 200-days by +44.00% in comparison to the 20-day moving average, which settled at $47.55. In addition, Corning, Inc saw 52.51% 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 5,175 shares at the price of $48.36 back on Nov 13 ’24. After this action, Zhang John Z now owns 0 shares of Corning, Inc, valued at $250,264 using the latest closing price.

Curran Martin J, the Retired Executive VP of Corning, Inc, sale 10,200 shares at $48.33 during a trade that took place back on Nov 12 ’24, which means that Curran Martin J is holding 55,398 shares at $492,983 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 0.01. The total capital return value is set at 0.03. Equity return is now at value 1.38, with 0.55 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 0.27. The debt to equity ratio resting at 0.67. The interest coverage ratio of the stock is 2.41.

Currently, EBITDA for the company is 2.69 billion with net debt to EBITDA at 2.9. When we switch over and look at the enterprise to sales, we see a ratio of 3.69. The receivables turnover for the company is 6.35for 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 1.66.

Conclusion

In conclusion, Corning, Inc (GLW) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.