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Corning (GLW) Stock Price, News & Analysis

$42.08
+1.35 (+3.31%)
(As of 08/21/2024 ET)
Today's Range
$41.20
$42.11
50-Day Range
$37.24
$46.20
52-Week Range
$25.26
$46.39
Volume
4.46 million shs
Average Volume
6.13 million shs
Market Capitalization
$36.05 billion
P/E Ratio
59.27
Dividend Yield
2.66%
Price Target
$45.23

Corning MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.57 Rating Score
Upside/​Downside
8.4% Upside
$45.62 Price Target
Short Interest
Healthy
1.87% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.47mentions of Corning in the last 14 days
Based on 20 Articles This Week
Insider Trading
Selling Shares
$479,714 Sold Last Quarter
Proj. Earnings Growth
20.00%
From $1.90 to $2.28 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.12 out of 5 stars

Computer And Technology Sector

154th out of 594 stocks

Nonferrous Wiredrawing & Insulating Industry

1st out of 2 stocks

GLW stock logo

About Corning Stock (NYSE:GLW)

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. The company's Specialty Materials segment manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for various markets comprising mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Its Environmental Technologies segment provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products, including consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Pyrex, Falcon, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

GLW Stock Price History

GLW Stock News Headlines

Secure this "AI Fuel" Stock Before the Billionaires Buy It All
According to the Washington Post, America is running out of a crucial component for AI. Without this "AI fuel," firms like NVIDIA would have to shut down their operations.
Corning (NYSE:GLW) Has Announced A Dividend Of $0.28
GLW Aug 2024 53.000 call (GLW240823C00053000)
Corning Incorporated (GLW.MX)
Secure this "AI Fuel" Stock Before the Billionaires Buy It All
According to the Washington Post, America is running out of a crucial component for AI. Without this "AI fuel," firms like NVIDIA would have to shut down their operations.
Corning: Rock-Solid Fundamentals Already Priced In
GLW Aug 2024 48.000 put
See More Headlines
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Company Calendar

Ex-Dividend for 6/27 Dividend
5/31/2024
Dividend Payable
6/27/2024
Last Earnings
7/30/2024
Today
8/22/2024
Ex-Dividend for 9/27 Dividend
8/30/2024
Dividend Payable
9/27/2024
Next Earnings (Estimated)
10/22/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Nonferrous wiredrawing & insulating
Sub-Industry
Electronic Components
CUSIP
21935010
Employees
49,800
Year Founded
1851

Price Target and Rating

Average Stock Price Target
$45.62
High Stock Price Target
$55.00
Low Stock Price Target
$37.00
Potential Upside/Downside
+7.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.57
Research Coverage
14 Analysts

Profitability

Net Income
$581 million
Pretax Margin
5.22%

Debt

Sales & Book Value

Annual Sales
$12.39 billion
Cash Flow
$3.47 per share
Book Value
$13.91 per share

Miscellaneous

Free Float
853,193,000
Market Cap
$36.05 billion
Optionable
Optionable
Beta
1.05

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Should I Buy Corning Stock? GLW Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Corning Incorporated:

  • Corning Incorporated reported earnings per share (EPS) of $0.47 for the quarter, beating analysts' consensus estimates by $0.01. This indicates strong financial performance and potential for growth.
  • Corning's return on equity of 12.69% showcases the company's ability to generate profit from shareholders' equity, a key metric for investors assessing profitability.
  • With a dividend yield of 2.92%, investors can benefit from a steady income stream from Corning's quarterly dividend payments.
  • Analysts have given Corning an average rating of "Moderate Buy" with a consensus target price of $45.23, suggesting potential upside for investors.
  • Corning's recent price performance shows resilience, with a 12-month low of $25.26 and a high of $46.39, indicating stability and potential for capital appreciation.

Cons

Investors should be bearish about investing in Corning Incorporated for these reasons:

  • Corning's dividend payout ratio is currently 157.75%, which may raise concerns about the sustainability of the dividend payments in the long term.
  • While the company's revenue for the quarter was up 3.5% year-over-year, there may be challenges in maintaining consistent revenue growth in a competitive market.
  • Corning's price-to-earnings (P/E) ratio of 53.31 is relatively high, indicating that the stock may be overvalued compared to its earnings potential.
  • There is insider selling activity at Corning, with a VP selling shares in June 2024. Insider selling can sometimes signal lack of confidence in the company's future prospects.
  • Despite analyst upgrades, investors should consider market volatility and economic uncertainties that could impact Corning's stock price in the short term.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, August 20, 2024. Please send any questions or comments about these Corning pros and cons to contact@marketbeat.com.

GLW Stock Analysis - Frequently Asked Questions

How have GLW shares performed this year?

Corning's stock was trading at $30.45 on January 1st, 2024. Since then, GLW shares have increased by 38.2% and is now trading at $42.08.
View the best growth stocks for 2024 here
.

How were Corning's earnings last quarter?

Corning Incorporated (NYSE:GLW) released its quarterly earnings results on Tuesday, July, 30th. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Corning's revenue for the quarter was up 3.5% on a year-over-year basis.
Read the conference call transcript
.

What is Wendell P. Weeks' approval rating as Corning's CEO?

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

Does Corning have any subsidiaries?

Corning subsidiaries include these companies: 3M Communication - Markets Division, SpiderCloud Wireless, STRAN Technologies, Alliance Fiber Optic Products Inc., Gerresheimer AG, iBwave Solutions Inc., Discovery Labware Inc., and others.

Who are Corning's major shareholders?

Top institutional shareholders of Corning include Dimensional Fund Advisors LP (1.21%), Primecap Management Co. CA (1.00%), Bank of New York Mellon Corp (0.83%) and Massachusetts Financial Services Co. MA (0.54%). Insiders that own company stock include Wendell P Weeks, Lawrence D Mcrae, Cheryl C Capps, Cheryl C Capps, Martin J Curran, Clark S Kinlin, Jeffrey W Evenson, Lewis A Steverson, Robert P France, John P Bayne Jr, John Z Zhang, Anne Mullins, Li Fang and Michael Alan Bell.
View institutional ownership trends
.

How do I buy shares of Corning?

Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Corning own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU) and Advanced Micro Devices (AMD).

This page (NYSE:GLW) was last updated on 8/22/2024 by MarketBeat.com Staff

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