Corning Incorporated [NYSE: GLW] loss -3.39% on the last trading session, reaching $44.51 price per share at the time. The company report on April 27, 2021 that Corning’s First-Quarter Results Reflect Strong Start to 2021.
Core sales grew 29% year over year; core EPS increased 125% year over year; Free cash flow grew year over year to $372 million; All segments grew double digits year over year with momentum expected to continue throughout 2021.
Corning Incorporated (NYSE: GLW) announced results for the first quarter ended March 31, 2021.
Corning Incorporated represents 764.00 million in outstanding shares, while the company has a total market value of $33.75 billion with the latest information. GLW stock price has been found in the range of $44.2399 to $45.60.
If compared to the average trading volume of 4.84M shares, GLW reached a trading volume of 5702542 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $47.14 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 1.90. 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 April 19, 2021. The new note on the price target was released on January 28, 2021, representing the official price target for Corning Incorporated stock. Previously, the target price had yet another raise from $31 to $44, while Barclays kept a Overweight rating on GLW stock.
The Average True Range (ATR) for Corning Incorporated is set at 0.95, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.99. The Price to Book ratio for the last quarter was 3.10, with the Price to Cash per share for the same quarter was set at 3.52. Price to Free Cash Flow for GLW in the course of the last twelve months was 296.03 with Quick ratio for the last quarter at 1.50.
Trading performance analysis for GLW stock
Corning Incorporated [GLW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.30. With this latest performance, GLW shares gained by 2.53% in over the last four-week period, additionally plugging by 25.17% over the last 6 months – not to mention a rise of 105.78% 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 52.54, with the RSI for the last a single of trading hit 44.85, and the three-weeks RSI is set at 56.18 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 41.74, while it was recorded at 45.73 for the last single week of trading, and 36.13 for the last 200 days.
Corning Incorporated [GLW]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Corning Incorporated [GLW] shares currently have an operating margin of +11.38 and a Gross Margin at +34.01. Corning Incorporated’s Net Margin is presently recorded at +4.53.
Return on Total Capital for GLW is now 5.93, given the latest momentum, and Return on Invested Capital for the company is 2.39. Return on Equity for this stock inclined to 3.91, with Return on Assets sitting at 1.72. When it comes to the capital structure of this company, Corning Incorporated [GLW] has a Total Debt to Total Equity ratio set at 65.63. Additionally, GLW Total Debt to Total Capital is recorded at 39.63, with Total Debt to Total Assets ending up at 28.27. Long-Term Debt to Equity for the company is recorded at 77.11, with the Long-Term Debt to Total Capital now at 38.48.
Reflecting on the efficiency of the workforce at the company, Corning Incorporated [GLW] managed to generate an average of $10,218 per employee. Receivables Turnover for the company is 5.70 with a Total Asset Turnover recorded at a value of 0.38.Corning Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.10.
Corning Incorporated [GLW]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Corning Incorporated posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 108.30%. 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 23.50%.
An analysis of insider ownership at Corning Incorporated [GLW]
There are presently around $25,572 million, or 76.40% of GLW stock, in the hands of institutional investors. The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 84,650,440, which is approximately -1.234% of the company’s market cap and around 10.50% of the total institutional ownership; BLACKROCK INC., holding 51,887,522 shares of the stock with an approximate value of $2.31 billion in GLW stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $2.21 billion in GLW stock with ownership of nearly -6.598% of the company’s market capitalization.
Positions in Corning Incorporated stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 503 institutional holders increased their position in Corning Incorporated [NYSE:GLW] by around 26,640,982 shares. Additionally, 415 investors decreased positions by around 31,882,132 shares, while 191 investors held positions by with 516,000,434 shares. The mentioned changes placed institutional holdings at 574,523,548 shares, according to the latest SEC report filing. GLW stock had 155 new institutional investments in for a total of 4,737,399 shares, while 43 institutional investors sold positions of 1,306,158 shares during the same period.