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Are we looking at the next big move in Corning Incorporated (GLW)?

Corning Incorporated (NYSE: GLW) is 5.07% higher on its value in year-to-date trading and has touched a low of $28.98 and a high of $38.71 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 $33.07 in the last trading session, with the day’s gains setting it 0.49% off its average median price target of $38.45 for the next 12 months. It is also 20.1% off the consensus price target high of $42.00 offered by 16 analysts, but current levels are -4.88% lower than the price target low of $32.00 for the same period.

Currently trading at $33.56, the stock is -3.09% and -4.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.2 million and changing 1.48% at the moment leaves the stock -0.41% off its SMA200. GLW registered -7.90% loss for a year compared to 6-month gain of -2.21%.

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The stock witnessed a -4.79% loss in the last 1 month and extending the period to 3 months gives it a 1.64%, and is -2.56% 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 2.35% over the week and 2.00% over the month.

Corning Incorporated (GLW) has around 57500 employees, a market worth around $28.19B and $14.19B in sales. Current P/E ratio is 21.83 and Fwd P/E is 13.43. Profit margin for the company is 9.30%. Distance from 52-week low is 15.80% and -13.29% from its 52-week high. The company has generated returns on investments over the last 12 months (5.40%).

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 2.30, where 7 rate it as a Hold and 2 think it is a “Overweight”. 7 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 20.10% this year.

Corning Incorporated (GLW) Top Institutional Holders

The shares outstanding are 843.00M, and float is at 763.28M with Short Float at 1.20%.

Corning Incorporated (GLW) Insider Activity

A total of 37 insider transactions have happened at Corning Incorporated (GLW) in the last six months, with sales accounting for 16 and purchases happening 21 times. The most recent transaction is an insider sale by Fang Li,the company’sPresident & GM, International. SEC filings show that Fang Li sold 19,909 shares of the company’s common stock on Mar 07 at a price of $35.17 per share for a total of $0.7 million. Following the sale, the insider now owns 0.0 shares.

Corning Incorporated disclosed in a document filed with the SEC on Feb 27 that McRae Lawrence D (Vice Chairman & Corp. Dev. Off) sold a total of 41,990 shares of the company’s common stock. The trade occurred on Feb 27 and was made at $34.31 per share for $1.44 million. Following the transaction, the insider now directly holds 0.15 million shares of the GLW stock.

Still, SEC filings show that on Feb 16, Zhang John Z (Senior VP & GM, Display) disposed off 5,744 shares at an average price of $35.52 for $0.2 million. The insider now directly holds 0 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 4.94% up over the past 12 months and Danaher Corporation (DHR) that is -6.73% lower over the same period.

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