Corning Incorporated (NYSE: GLW) is 12.21% higher on its value in year-to-date trading and has touched a low of $28.98 and a high of $43.47 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GLW stock was last observed hovering at around $35.75 in the last trading session, with the day’s gains setting it 0.09% off its average median price target of $38.00 for the next 12 months. It is also 14.67% off the consensus price target high of $42.00 offered by 16 analysts, but current levels are -12.0% lower than the price target low of $32.00 for the same period.
Currently trading at $35.84, the stock is 5.65% and 6.49% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.98 million and changing 0.25% at the moment leaves the stock 6.42% off its SMA200. GLW registered -0.33% loss for a year compared to 6-month loss of 2.84%.
The stock witnessed a 12.88% gain in the last 1 month and extending the period to 3 months gives it a 14.07%, and is -1.92% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.71% over the week and 1.84% over the month.
Corning Incorporated (GLW) has around 61200 employees, a market worth around $30.24B and $14.46B in sales. Current P/E ratio is 16.75 and Fwd P/E is 15.87. Profit margin for the company is 12.70%. Distance from 52-week low is 23.67% and -17.55% from its 52-week high. The company has generated returns on investments over the last 12 months (8.40%).
Corning Incorporated (GLW) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Corning Incorporated (GLW) is a “Overweight”. 16 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Corning Incorporated is expected to release its quarterly report on 04/25/2023.The EPS is expected to grow by 138.40% this year.
Corning Incorporated (GLW) Top Institutional Holders
The shares outstanding are 843.00M, and float is at 763.28M with Short Float at 1.25%.
Corning Incorporated (GLW) Insider Activity
A total of 11 insider transactions have happened at Corning Incorporated (GLW) in the last six months, with sales accounting for 4 and purchases happening 7 times. The most recent transaction is an insider sale by STEVERSON LEWIS A,the company’sEVP and CLAO. SEC filings show that STEVERSON LEWIS A sold 41,066 shares of the company’s common stock on Aug 15 at a price of $37.29 per share for a total of $1.53 million. Following the sale, the insider now owns 0.0 shares.
Corning Incorporated disclosed in a document filed with the SEC on Aug 01 that Bayne John P JR (SVP &GM, Mobile Consumer Elec.) sold a total of 5,575 shares of the company’s common stock. The trade occurred on Aug 01 and was made at $36.70 per share for $0.2 million. Following the transaction, the insider now directly holds 7345.0 shares of the GLW stock.
Still, SEC filings show that on Jun 02, Capps Cheryl C (SVP & Chief Supply Chain Off.) disposed off 8,723 shares at an average price of $35.67 for $0.31 million. The insider now directly holds 98,497 shares of Corning Incorporated (GLW).
Corning Incorporated (GLW): Who are the competitors?
The company’s main competitors (and peers) include Thermo Fisher Scientific Inc. (TMO) that is trading 0.05% up over the past 12 months and Danaher Corporation (DHR) that is -4.40% lower over the same period.