Corning Incorporated [GLW] gain 20.44% so far this year. What now?

Corning Incorporated [NYSE: GLW] price surged by 4.28 percent to reach at $1.44. The company report on October 7, 2020 that Corning Announces Quarterly Dividend.

Corning Incorporated’s (NYSE: GLW) Board of Directors today declared a quarterly dividend of $0.22 per share on the company’s common stock. The dividend will be payable on Dec. 18, 2020, to shareholders of record on Nov. 13, 2020.

Caution Concerning Forward-Looking StatementsThis press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the duration and severity of the recent COVID-19 (coronavirus) outbreak, and its ultimate impact across our businesses on demand, operations and our global supply chains; the effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.

A sum of 4588863 shares traded at recent session while its average daily volume was at 4.76M shares. Corning Incorporated shares reached a high of $35.095 and dropped to a low of $33.881 until finishing in the latest session at $35.06.

The one-year GLW stock forecast points to a potential downside of -8.24. The average equity rating for GLW stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Corning Incorporated [GLW]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GLW shares is $32.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GLW stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Corning Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 16, 2020. While these analysts kept the previous recommendation, Barclays dropped their target price from $26 to $22. The new note on the price target was released on April 29, 2020, representing the official price target for Corning Incorporated stock. Previously, the target price had yet another drop from $34 to $33, while Morgan Stanley kept a Equal-Weight rating on GLW stock. On October 30, 2019, analysts decreased their price target for GLW shares from 33 to 30.

The Average True Range (ATR) for Corning Incorporated is set at 0.99, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.47. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 2.86. Price to Free Cash Flow for GLW in the course of the last twelve months was 11.57 with Quick ratio for the last quarter at 1.50.

GLW Stock Performance Analysis:

Corning Incorporated [GLW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.18. With this latest performance, GLW shares gained by 10.39% in over the last four-week period, additionally plugging by 70.44% over the last 6 months – not to mention a rise of 28.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLW stock in for the last two-week period is set at 69.45, with the RSI for the last a single of trading hit 77.96, and the three-weeks RSI is set at 66.05 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 32.26, while it was recorded at 33.51 for the last single week of trading, and 26.82 for the last 200 days.

Insight into Corning Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Corning Incorporated [GLW] shares currently have an operating margin of +11.26 and a Gross Margin at +32.28. Corning Incorporated’s Net Margin is presently recorded at +8.35.

Return on Total Capital for GLW is now 6.30, given the latest momentum, and Return on Invested Capital for the company is 4.70. Return on Equity for this stock inclined to 7.19, with Return on Assets sitting at 3.40. When it comes to the capital structure of this company, Corning Incorporated [GLW] has a Total Debt to Total Equity ratio set at 63.93. Additionally, GLW Total Debt to Total Capital is recorded at 39.00, with Total Debt to Total Assets ending up at 28.56. Long-Term Debt to Equity for the company is recorded at 77.11, with the Long-Term Debt to Total Capital now at 38.65.

Reflecting on the efficiency of the workforce at the company, Corning Incorporated [GLW] managed to generate an average of $19,394 per employee. Receivables Turnover for the company is 6.09 with a Total Asset Turnover recorded at a value of 0.41.Corning Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.30.


With the latest financial reports released by the company, Corning Incorporated posted 0.44/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GLW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corning Incorporated go to 1.30%.

Corning Incorporated [GLW] Insider Position Details

There are presently around $20,511 million, or 78.20% of GLW stock, in the hands of institutional investors. The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 75,624,176, which is approximately 17.263% of the company’s market cap and around 0.10% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 52,993,214 shares of the stock with an approximate value of $1.86 billion in GLW stocks shares; and BLACKROCK INC., currently with $1.81 billion in GLW stock with ownership of nearly -2.61% of the company’s market capitalization.

Positions in Corning Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 372 institutional holders increased their position in Corning Incorporated [NYSE:GLW] by around 46,975,962 shares. Additionally, 468 investors decreased positions by around 26,104,631 shares, while 141 investors held positions by with 511,954,979 shares. The mentioned changes placed institutional holdings at 585,035,572 shares, according to the latest SEC report filing. GLW stock had 101 new institutional investments in for a total of 5,314,362 shares, while 81 institutional investors sold positions of 3,881,324 shares during the same period.

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