Corning, Inc (NYSE: GLW)’s stock price has gone rise by 1.17 in comparison to its previous close of 48.67, however, the company has experienced a 1.48% increase in its stock price over the last five trading days. zacks.com reported 2024-11-28 that Corning (GLW) reported earnings 30 days ago. What’s next for the stock?
Is It Worth Investing in Corning, Inc (NYSE: GLW) Right Now?
The price-to-earnings ratio for Corning, Inc (NYSE: GLW) is 275.39x, which is above its average ratio. Moreover, the 36-month beta value for GLW is 1.03. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for GLW is 779.14M and currently, short sellers hold a 1.29% of that float. On December 03, 2024, GLW’s average trading volume was 4.53M shares.
GLW’s Market Performance
GLW stock saw an increase of 1.48% in the past week, with a monthly gain of 3.47% and a quarterly increase of 21.07%. The volatility ratio for the week is 1.60%, and the volatility levels for the last 30 days are 1.82% for Corning, Inc (GLW). The simple moving average for the last 20 days is 2.87% for GLW’s stock, with a simple moving average of 24.53% for the last 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 5.22% 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 -3.51% of loss for the given period.
Volatility was left at 1.82%, however, over the last 30 days, the volatility rate increased by 1.60%, as shares surge +1.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.65% upper at present.
During the last 5 trading sessions, GLW rose by +1.48%, which changed the moving average for the period of 200-days by +53.73% in comparison to the 20-day moving average, which settled at $47.87. In addition, Corning, Inc saw 61.71% 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 sale 8,876 shares at the price of $49.09 back on Nov 25 ’24. After this action, Bayne John P JR now owns 0 shares of Corning, Inc, valued at $435,725 using the latest closing price.
John Bayne Jr., the Officer of Corning, Inc, proposed sale 8,876 shares at $49.08 during a trade that took place back on Nov 25 ’24, which means that John Bayne Jr. is holding shares at $435,634 based on the most recent closing price.
Stock Fundamentals for GLW
Current profitability levels for the company are sitting at:
- 0.08 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 0.04. 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 2.9.
Currently, EBITDA for the company is 2.51 billion with net debt to EBITDA at 2.86. When we switch over and look at the enterprise to sales, we see a ratio of 3.88. 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
To wrap up, the performance of Corning, Inc (GLW) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
