Corning Incorporated (NYSE:GLW) traded on Tuesday with an addition of $0.49 to $37.05, an upside of 1.34 percent. An average of 3,414,419 shares of common stock have been traded in the last five days. There was a fall of -$0.63 in the past week. The last 20 days have seen an average of 4,368,035 shares traded, while the 50-day average volume stands at 4,176,110.
GLW stock has decreased by -7.68% in the last month. The company shares reached their 1-month lowest point of $36.22 on 10/01/21. With the stock rallying to its 52-week high on 04/26/21, shares of the company touched a low of $31.28 and a high of $46.82 in 52 weeks. In spite of this, the price is down -20.87% from the 52-week high.
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28 days have passed since Corning Incorporated (GLW) last reported insider trading activity. Kinlin Clark S, who is Retired Exec. Vice President, most recently acquired $15,302 shares at $39.40 per share on Sep 07. In this transaction, the insider spent $602,831. Retired Vice Chair &Strat. Adv, Clappin James P, disposed of 67,069 shares at a price of $39.51 on Sep 02. The insider now owns more than $2,650,077 worth of shares. Prior to that, Retired Vice Chair &Strat. Adv Clappin James P went on to Sale 13,702 shares at $39.88 each on Sep 01. An amount of $546,414 was transacted.
Corning Incorporated (GLW) has a trailing price-to-earnings (P/E) ratio of 36.89, which compares with the 20.23 for the broader industry and 36.51 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Corning Incorporated’s PE ratio has ranged between 337.00 and 7.172. The stock’s beta is 1.16. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.34, the price-to-book (PB) ratio at 2.58, and the price-to-cash flow ratio at 33.24.
Corning Incorporated pays a $0.96 dividend per share annually. It offers a dividend yield of 2.59%. The company has a payout ratio of 79.40%. The company’s most recent quarterly dividend payment took place on Sep. 29, and it was $0.24 a share, without any change from last year. Its dividend has been increased for the last 1 consecutive years with the latest increase dividend $0.02 reported on Thursday February 4 2021. Dividends have grown by 41.94% each year over the last three years.
Corning Incorporated will next go ex-dividend on 15-Nov. The next dividend payment Corning Incorporated will make is expected to be $0.24.
The quick ratio of Corning Incorporated for the three months ended June 29 was 1.10, and the current ratio was 1.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.59 and a total debt to equity ratio of 0.62 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 35.60% against a 5-year average of 37.1%. Corning Incorporated’s EBITDA margin for the year ending June 29 is 24.82%, while its operating margin for the same period stands at 17.60%. Its gross profit as reported stood at $3.53 billion compared to revenue of $11.3 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Corning Incorporated’s return on assets was 2.80%, compared to 3.7% over the last five years. In the past year, the return on investment has been 4.70%, and the 5-year average is 6.0%. Meanwhile, the return on equity (ROE) for the past 12 months has been 7.70% and the 5-year average holds at 7.5%. For the broader industry, ROE averaged 6.64 over the past year.
From a technical analysis perspective, let’s take a brief look at Corning Incorporated (GLW) price momentum. RSI 9-day as of the close on 04 October was 39.48%, suggesting the stock is Neutral, with historical volatility in this time frame at 22.64%.
As of today, GLW’s price is $36.83 -1.66% or -$0.63 from its 5-day moving average. GLW is currently trading -6.49% lower than its 20-day SMA and -15.04% lower than its 100-day SMA. However, the stock’s current price level is -9.92% below the SMA50 and +1.08% above the SMA200.
The stochastic %K and %D were 21.98% and 15.28%, respectively, and the average true range (ATR) was 0.82. With the 14-day stochastic at 27.57% and the average true range at 0.80, the RSI (14) stands at 38.61%. The stock has reached -0.54 on the 9-day MACD Oscillator while the 14-day reading was at -0.75.
JP Morgan upgraded Corning Incorporated (NYSE: GLW) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a a Neutral.The consensus rating for Corning Incorporated (GLW) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GLW, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 8 others rate it as a “buy”.
What is GLW’s price target for the next 12 months?
Analysts predict a range of price targets between $41.00 and $54.00, with a median target of $50.50. Taking a look at these predictions, the average price target given by analysts for Corning Incorporated (GLW) stock is $48.75.