In the latest trading session, 0.7 million Corning, Inc. (NYSE:GLW) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $47.46 changing hands around $0.15 or 0.32% at last look, the market valuation stands at $40.61B. GLW’s last price was a premium, traded about 0.02% off its 52-week high of $47.45. The share price had its 52-week low at $25.26, which suggests the last value was 46.78% up since then. When we look at Corning, Inc.’s average trading volume, we note the 10-day average is 4.68 million shares, with the 3-month average coming to 5.20 million.
Analysts gave the Corning, Inc. (GLW) stock a consensus recommendation rating of Hold, calculated at a mean rating of 1.94. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 7 recommended GLW as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Corning, Inc.’s EPS for the current quarter is expected to be 0.52.
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Corning, Inc. (NYSE:GLW) trade information
Instantly GLW is in green as seen in intraday trades today. With action 3.15%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 55.86%, with the 5-day performance at 3.15% in the green. However, in the 30-day time frame, Corning, Inc. (NYSE:GLW) is 4.79% up. Looking at the short shares, we see there were 11.99 million shares sold at short interest cover period of 2.68 days.
The consensus price target for the stock as assigned by Wall Street analysts is 50, meaning bulls need an upside of 5.08% from its recent market value. According to analyst projections, GLW’s forecast low is 38 with 55 as the target high. To hit the forecast high, the stock’s price needs a -15.89% plunge from its current level, while the stock would need to tank 19.93% for it to hit the projected low.
Corning, Inc. (GLW) estimates and forecasts
Data shows that the Corning, Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 50.57% over the past 6 months, a 12.35% in annual growth rate that is considerably lower than the industry average of 29.20%. Year-over-year growth is forecast to reach 5.00% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of 3.72B. 9 analysts are of the opinion that Corning, Inc.’s revenue for the current quarter will be 3.67B. The company’s revenue for the corresponding quarters a year ago was 3.5B and 3.27B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.10%. The estimates for the next quarter sales put growth at 12.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.80%. The 2024 estimates are for Corning, Inc. earnings to increase by 12.44%, but the outlook for the next 5-year period is at 14.02% per year.
GLW Dividends
Corning, Inc. is expected to release its next quarterly earnings report on 2024-Oct-29. The 2.36% annual yield figure for the share gives it an annual dividend of 1.12. It is important to note, however, that the 2.36% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.96 per year.
Corning, Inc. (NYSE:GLW)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.33% of Corning, Inc. shares while 73.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.48%. There are 73.88% institutions holding the Corning, Inc. stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 11.5224% of the shares, roughly 98.17 million GLW shares worth $3.81 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.2954% or 62.16 million shares worth $2.41 billion as of 2024-06-30.
