Corning, Inc (NYSE: GLW) is -0.84% lower on its value in year-to-date trading and has touched a low of $29.71 and a high of $51.03 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GLW stock was last observed hovering at around $47.73 in the last trading session, with the day’s loss setting it -0.61%.
Currently trading at $47.12, the stock is -1.06% and -1.72% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.24 million and changing -1.28% at the moment leaves the stock 13.43% off its SMA200. GLW registered 54.04% gain for a year compared to 6-month gain of 4.59%. The firm has a 50-day simple moving average (SMA 50) of $47.9466 and a 200-day simple moving average (SMA200) of $41.5413.
The stock witnessed a -2.87% loss in the last 1 month and extending the period to 3 months gives it a 0.83%, and is 0.88% up 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 1.74% over the week and 1.93% over the month.
Corning, Inc (GLW) has around 49800 employees, a market worth around $40.34B and $12.61B in sales. Current P/E ratio is 263.53 and Fwd P/E is 20.39. Profit margin for the company is 1.24%. Distance from 52-week low is 58.60% and -7.66% from its 52-week high. The company has generated returns on investments over the last 12 months (0.82%).
with sales reaching $3.76B over the same period.The EPS is expected to grow by 14.76% this year, but quarterly earnings will post 5.64% year-over-year. Quarterly sales are estimated to grow 14.97% in year-over-year returns.
Corning, Inc (GLW) Top Institutional Holders
1702.0 institutions hold shares in Corning, Inc (GLW), with institutional investors hold 80.00% of the company’s shares. The shares outstanding are 814.00M, and float is at 779.20M with Short Float at 1.39%. Institutions hold 72.84% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 98.17 million shares valued at $3.81 billion. The investor’s holdings represent 11.5224% of the GLW Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 62.16 million shares valued at $2.41 billion to account for 7.2954 of the shares outstanding. The other top investors are WELLINGTON MANAGEMENT GROUP LLP which holds 39.09 million shares representing 4.5883% and valued at over $1.52 billion, while STATE STREET CORP holds 3.8428 of the shares totaling 32.74 million with a market value of $1.27 billion.
Corning, Inc (GLW) Insider Activity
The most recent transaction is an insider sale by Bayne John P JR, the company’s Retired Senior Vice President. SEC filings show that Bayne John P JR sold 8,876 shares of the company’s common stock on Nov 25 ’24 at a price of $49.09 per share for a total of $0.44 million. Following the sale, the insider now owns 0.0 shares.
Still, SEC filings show that on Nov 22 ’24, Bayne John P JR (Retired Senior Vice President) disposed off 5,000 shares at an average price of $48.39 for $0.24 million. The insider now directly holds 6,700 shares of Corning, Inc (GLW).
