Corning Incorporated [GLW] Revenue clocked in at $13.76 billion, up 4.25% YTD: What’s Next?


Corning Incorporated [NYSE: GLW] gained 1.85% or 0.68 points to close at $37.53 with a heavy trading volume of 4193417 shares. The company report on November 19, 2021 that Corning Accelerates Delivery of Life-Saving Treatments and Critical Drugs with Expanded Pharmaceutical Glass Packaging Portfolio.

Corning Velocity® Vials to help speed delivery of COVID-19 vaccines, enabling increased manufacturing efficiency of 20% to 50% and improved fill-finish quality.

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Corning Incorporated (NYSE: GLW) introduced Corning Velocity® Vials, specially engineered Type I borosilicate vials externally coated with the company’s proprietary technology, which are helping industry-leading drugmakers respond to the pandemic at speed. The increased efficiency and throughput enabled by Velocity Vials can drive faster manufacturing of COVID-19 vaccines, helping address industry supply chain challenges and meet global demand.

It opened the trading session at $37.07, the shares rose to $37.78 and dropped to $36.91, the range by which the price of stock traded the whole day. The daily chart for GLW points out that the company has recorded -13.55% loss over the past six months. However, it is still -7.81% lower than its most recent low trading price.

If we look at the average trading volume of 4.32M shares, GLW reached to a volume of 4193417 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 $44.54 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.

Susquehanna have made an estimate for Corning Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 27, 2021. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $42 to $40. The new note on the price target was released on October 27, 2021, representing the official price target for Corning Incorporated stock. Previously, the target price had yet another drop from $44 to $38, while Goldman kept a Neutral rating on GLW stock. On October 27, 2021, analysts decreased their price target for GLW shares from 45 to 43.

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 2.37. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 2.55. Price to Free Cash Flow for GLW in the course of the last twelve months was 35.44 with Quick ratio for the last quarter at 1.20.

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 -3.87. With this latest performance, GLW shares gained by 1.54% in over the last four-week period, additionally sinking by -13.55% over the last 6 months – not to mention a drop of -0.71% 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 47.49, with the RSI for the last a single of trading hit 45.90, and the three-weeks RSI is set at 48.03 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 37.58, while it was recorded at 37.58 for the last single week of trading, and 40.57 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 1.20 and a Current Ratio set at 1.80.

Corning Incorporated [GLW]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Corning Incorporated posted 0.43/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.20%. 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 22.82%.

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An analysis of insider ownership at Corning Incorporated [GLW]

There are presently around $22,128 million, or 70.10% of GLW stock, in the hands of institutional investors. The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 91,801,452, which is approximately 0.448% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 53,705,429 shares of the stock with an approximate value of $2.02 billion in GLW stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.44 billion in GLW stock with ownership of nearly -18.55% of the company’s market capitalization.

Positions in Corning Incorporated stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 508 institutional holders increased their position in Corning Incorporated [NYSE:GLW] by around 40,489,965 shares. Additionally, 450 investors decreased positions by around 33,322,775 shares, while 247 investors held positions by with 515,795,239 shares. The mentioned changes placed institutional holdings at 589,607,979 shares, according to the latest SEC report filing. GLW stock had 77 new institutional investments in for a total of 2,506,961 shares, while 89 institutional investors sold positions of 3,395,709 shares during the same period.