As of Friday close, Corning Incorporated’s (NYSE:GLW) stock was up $0.33, moving up 0.94 percent to $35.54. The average number of shares traded per day over the past five days has been 4,917,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.32 fall in that time frame. In the last twenty days, the average volume was 5,733,785, while in the previous 50 days, it was 5,151,600.
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Since last month, GLW stock rose 4.93%. Shares of the company fell to $33.21 on 04/25/22, the lowest level in the past month. A 52-week high of $44.57 was reached on 02/10/22 after having rallying from a 52-week low of $33.21. Since the beginning of this year, GLW’s stock price has dropped by -4.54% or -$1.69, and marked a new high 11 times. However, the stock has declined by -20.26% since its 52-week high.
Corning Incorporated (GLW) last reported insider trading activity 24 days ago on Apr 20. France Robert P., the Senior VP, Human Resources of the company, disposed of 2,190 shares for $35.03 on Apr 20. It resulted in a $76,706 divestment by the insider. Bell Michael Alan sold 3,355 shares at an average price of $35.03 on Apr 20. The insider now owns 0 shares following the transaction. On Apr 01, Senior VP & GM, Optical Comm. Bell Michael Alan sold 12,529 shares at $36.24 apiece. The transaction was valued at $454,099.
Right now, Corning Incorporated (GLW) has a P/E ratio of about 28.48. The stock’s beta is 0.92. Besides these, the trailing price-to-sales (P/S) ratio of 2.06, the price-to-book (PB) ratio of 2.42, and the price-to-cash flow ratio of 49.50 may also be considered.
The latest dividend of $0.27 per share was paid out, remained unchanged from last year’s $0.27. On Wednesday February 2 2022, a $0.03 dividend increase was announced.
In the three months ended September 29, Corning Incorporated’s quick ratio stood at 1.00, while its current ratio was 1.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.55, and the total debt-to-equity ratio was 0.56. On the profitability front, the trailing twelve-month gross margin is 35.90% percent. In the year ended September 29, operating margins totaled 15.10%. Based on annual data, GLW earned $5.06 billion in gross profit and brought in $14.08 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 8.40%. Return on equity (ROE) for the past 12 months was 8.90%.
In Corning Incorporated’s quarter-end financial report for September 29, it reported total debt of $6.84 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GLW’s revenue rose 10.6% to $3.68 billion during the quarter, while net income inched up to $3.68 billion. While analysts expected Corning Incorporated to report $0.58 quarterly earnings, the actual figure was $0.56 per share, beating the consensus estimate by -3.40%. During the quarter, the company generated $943.0 million in EBITDA. The liabilities of Corning Incorporated were 17.63 billion at the end of its most recent quarter ended September 29, and its total debt was $7.79 billion. The value of shareholders’ equity is $844.61 million.
This quick technical analysis looks at Corning Incorporated’s (GLW) price momentum. With a historical volatility rate of 31.70%, the RSI 9-day stood at 48.66% on 13 May.
With respect to its five-day moving average, the current Corning Incorporated price is down by -3.58% percent or -$1.32. At present, GLW shares trade +5.49% above its 20-day simple moving average and -1.55% percent below its 100-day simple moving average. However, the stock is currently trading approximately -10.34% below its SMA50 and -15.02% below its SMA200.
Stochastic coefficient K was 42.31% and Stochastic coefficient D was 50.65%, while ATR was 1.05. Given the Stochastic reading of 37.30% for the 14-day period, the RSI (14) reading has been calculated as 48.38%. As of today, the MACD Oscillator reading stands at -0.81, while the 14-day reading stands at -0.74.
Corning Incorporated downgraded its rating on Corning Incorporated (NYSE: GLW) to an Equal weight in a note to investors on May 11, 2022. The analysts firm previously had an Overweight rating on the stock.Corning Incorporated (GLW) has been rated Overweight by analysts. According to 0 brokerage firms, GLW is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Corning Incorporated stock as buy, with 9 recommending it as overweight.
With a median target price of $45.50, the current consensus forecast for the stock is $38.00 – $51.00. Based on these forecasts, analysts predict Corning Incorporated (GLW) will achieve an average price target of $44.75.