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Corning (GLW)
NYSE:GLW
Corning (GLW) Stock Price & Analysis
2,903 Followers
GLW Stock Chart & Stats
Day’s Range$0 - $0
52-Week Range$24.80 - $35.06
Previous Close$33.72
Volume4.49M
Average Volume (3M)4.64M
Market Cap
$28.89B
Enterprise Value$36.73B
Total Cash (Recent Filing)$0.00
Total Debt (Recent Filing)$7.53B
Price to Earnings (P/E)47.3
Beta1.00
Next Earnings
Jul 23, 2024EPS Estimate
$0.45Next Dividend Ex-Date
May 31, 2024Dividend Yield3.34%
Share Statistics
EPS (TTM)0.71
Shares Outstanding856,619,222
10 Day Avg. Volume5,543,329
30 Day Avg. Volume4,643,878
Standard Deviation0.08
R-Squared0.47
Alpha-0.00444
Financial Highlights & Ratios
Price to Book (P/B)3.47
Price to Sales (P/S)9.65
Price to Cash Flow (P/CF)10.10
P/FCF Ratio13.60
Enterprise Value/Market CapN/A
Enterprise Value/Revenue2.92
Enterprise Value/Gross Profit9.34
Enterprise Value/Ebitda17.63
Forecast
1Y Price Target
$35.63Price Target Upside5.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
Corning News
PremiumCompany Announcements
Corning Sees Board Changes and Strong Shareholder Engagement
Bulls Say, Bears Say
Bulls Say
Financial PerformanceAnalyst reiterates Buy rating on the company as more content in end devices will allow the company to grow revenue in excess of its end markets despite weak near-term market conditions.
Industry TrendCompetitors such as Asahi and NEG are likely to follow Corning's lead in raising prices, indicating an industry trend.
Market Position And StrategyOptical segment sees an inflection point with expected increase in sales and recent wins in enterprise optical from AI data center builds.
Bears Say
Demand And Supply DynamicsOmdia expects panel demand to slow, and panel makers are anticipated to lower their fab utilization rates.
Pricing PressureThe company will need to raise Display prices significantly to maintain profitability due to expiring Yen hedges.
Profitability ConcernsCorning's profitability from Display is expected to decline with the best case scenario being flat.
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Ownership Overview
10.14% Insiders
24.23% Mutual Funds
25.29% Other Institutional Investors
40.34% Public Companies and Individual Investors
Risk Analysis
Main Risk Category
Macro & PoliticalRisks related to catastrophic events or geopolitical conditions that may disrupt the company’s business
Website Traffic
Sorry, No Data AvailableThere is no website visitor data available for this stock.
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GLW FAQ
What was Corning’s price range in the past 12 months?
Corning lowest stock price was $24.80 and its highest was $35.06 in the past 12 months.
What is Corning’s market cap?
Currently, no data Available
When is Corning’s upcoming earnings report date?
Corning’s upcoming earnings report date is Jul 23, 2024 which is in 76 days.
How were Corning’s earnings last quarter?
Corning released its earnings results on Apr 30, 2024. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.352 by $0.028.
Is Corning overvalued?
According to Wall Street analysts Corning’s price is currently Undervalued.
Does Corning pay dividends?
Corning pays a Quarterly dividend of $0.28 which represents an annual dividend yield of 3.34%. See more information on Corning dividends here
What is Corning’s EPS estimate?
Corning’s EPS estimate is $0.45.
How many shares outstanding does Corning have?
Corning has 856,619,200 shares outstanding.
What happened to Corning’s price movement after its last earnings report?
Corning reported an EPS of $0.38 in its last earnings report, beating expectations of $0.352. Following the earnings report the stock price went up 5.035%.
Which hedge fund is a major shareholder of Corning?
Among the largest hedge funds holding Corning’s share is PRIMECAP Management Co. It holds Corning’s shares valued at 264M.
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Corning Stock Smart Score
Neutral
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Analyst Consensus
Moderate Buy
Average Price Target:
$35.63 (5.66% Upside)
$35.63 (5.66% Upside)
Blogger Sentiment
Bullish
GLW Sentiment 100%
Sector Average 71%
Sector Average 71%
Hedge Fund Trend
Decreased
By 434.2K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $5.7M over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Negative
Last 7 Days ▼ 0.7%
Last 30 Days >0.1%
Last 30 Days >0.1%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
10.36%
12-Months-Change
Fundamentals
Return on Equity
5.30%
Trailing 12-Months
Asset Growth
-4.18%
Trailing 12-Months
Company Description
Corning
Corning, Inc. develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies. It operates through the following business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. The Display Technologies segment manufactures glass substrates for high performance displays, including organic light-emitting diode and liquid crystal displays that are used primarily in televisions, notebook computers and flat panel desktop monitors. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. The Life Sciences segment develops, manufactures and supplies scientific laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.
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GLW Company Deck
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GLW Earnings Call
Q1 2024
0:00 / 0:00
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GLW Revenue Breakdown
31.87% Telecommunication products
21.40% Display products
14.73% Specialty glass products
13.19% Environmental substrate and filter products
18.81% Other
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GLW Stock 12 Months Forecast
Average Price Target
$35.63
▲(5.66% Upside)
Technical Analysis
Best Analysts Covering GLW
1 Year
1 Year Success Rate
14/18 ratings generated profit
1 Year Average Return
+13.60%
reiterated a buy rating last month
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