Corning Incorporated [GLW] is 6.29% higher this YTD. Is it still time to buy?

Corning Incorporated [NYSE: GLW] loss -1.05% on the last trading session, reaching $33.95 price per share at the time. The company report on February 8, 2023 that Corning Announces Increase in Quarterly Dividend.

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Edward Schlesinger, Corning’s executive vice president and chief financial officer, commented, “Today’s dividend announcement reflects Corning’s confidence that we’re continuing to build a solid foundation for the future. Our growth drivers remain intact, and we are well positioned to deliver multiyear growth while continuing to reward our shareholders.”.

Corning Incorporated represents 843.00 million in outstanding shares, while the company has a total market value of $28.26 billion with the latest information. GLW stock price has been found in the range of $33.901 to $34.37.

If compared to the average trading volume of 4.22M shares, GLW reached a trading volume of 4686868 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 $37.99 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 2.20. 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.

Credit Suisse have made an estimate for Corning Incorporated shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2023. The new note on the price target was released on October 26, 2022, representing the official price target for Corning Incorporated stock. Previously, the target price had yet another raise to $36, while Credit Suisse analysts kept a Neutral rating on GLW stock. On May 23, 2022, analysts decreased their price target for GLW shares from 46 to 37.

The Average True Range (ATR) for Corning Incorporated is set at 0.70, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 1.99. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 2.01. Price to Free Cash Flow for GLW in the course of the last twelve months was 357.70 with Quick ratio for the last quarter at 0.90.

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 -1.91. With this latest performance, GLW shares dropped by -7.74% in over the last four-week period, additionally sinking by -1.99% over the last 6 months – not to mention a drop of -17.40% 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 39.88, with the RSI for the last a single of trading hit 33.35, and the three-weeks RSI is set at 44.11 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 34.59, while it was recorded at 34.34 for the last single week of trading, and 33.70 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 +12.44 and a Gross Margin at +32.79. Corning Incorporated’s Net Margin is presently recorded at +9.31.

Return on Equity for this stock inclined to 10.81, with Return on Assets sitting at 4.41.

Corning Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.

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

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 9.90%.

An analysis of insider ownership at Corning Incorporated [GLW]

There are presently around $20,014 million, or 70.00% of GLW stock, in the hands of institutional investors. The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 97,196,146, which is approximately 1.26% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 55,529,116 shares of the stock with an approximate value of $1.89 billion in GLW stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.19 billion in GLW stock with ownership of nearly 1.429% of the company’s market capitalization.

Positions in Corning Incorporated stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 548 institutional holders increased their position in Corning Incorporated [NYSE:GLW] by around 34,347,693 shares. Additionally, 497 investors decreased positions by around 30,283,269 shares, while 214 investors held positions by with 524,888,086 shares. The mentioned changes placed institutional holdings at 589,519,048 shares, according to the latest SEC report filing. GLW stock had 143 new institutional investments in for a total of 5,207,062 shares, while 82 institutional investors sold positions of 3,536,902 shares during the same period.


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