Corning Incorporated [NYSE: GLW] surged by $0.16 during the normal trading session on Wednesday and reaching a high of $37.835 during the day while it closed the day at $37.51. The company report on December 9, 2021 that Corning Appoints Edward Schlesinger Chief Financial Officer.
Company thanks retiring CFO Tony Tripeny for 36 years of service.
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Corning Incorporated (NYSE: GLW) today announced the appointment of Edward Schlesinger to executive vice president and chief financial officer, effective Feb. 18, 2022. Schlesinger will report to Wendell Weeks, chairman and chief executive officer, and will succeed retiring CFO Tony Tripeny, whose important contributions throughout his career have made Corning a stronger company.
Corning Incorporated stock has also gained 3.45% of its value over the past 7 days. However, GLW stock has inclined by 1.02% in the 3 months of the year. Over the past six months meanwhile, it has lost -8.29% and gained 4.19% year-on date.
The market cap for GLW stock reached $31.69 billion, with 852.00 million shares outstanding and 770.74 million shares in the current float. Compared to the average trading volume of 4.14M shares, GLW reached a trading volume of 2586425 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $44.38 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 0.79, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.30. 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 2.62. Price to Free Cash Flow for GLW in the course of the last twelve months was 34.44 with Quick ratio for the last quarter at 1.20.
GLW stock trade performance evaluation
Corning Incorporated [GLW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.45. With this latest performance, GLW shares dropped by -2.47% in over the last four-week period, additionally sinking by -8.29% over the last 6 months – not to mention a rise of 5.25% 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 52.08, with the RSI for the last a single of trading hit 56.36, and the three-weeks RSI is set at 50.46 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 37.55, while it was recorded at 37.07 for the last single week of trading, and 40.42 for the last 200 days.
Corning Incorporated [GLW]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Corning Incorporated [GLW] stock
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 22.14%.