Corning Incorporated [NYSE: GLW] slipped around -0.38 points on Friday, while shares priced at $33.60 at the close of the session, down -1.12%. The company report on April 13, 2023 at 8:00 AM that Corning and Memorial Sloan Kettering Cancer Center Announce Health Equity Fellowship to Explore Disparities in Cancer Outcomes.
Fellowship recipient Dr. Francisco Sanchez-Vega will research factors that lead to negative colorectal cancer outcomes in Black communities.
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Corning Incorporated stock is now 5.20% up from its year-to-date (YTD) trading value. GLW Stock saw the intraday high of $33.95 and lowest of $33.40 per share. The company’s 52-week high price is 37.73, which means current price is +5.20% above from all time high which was touched on 01/30/23.
Compared to the average trading volume of 4.42M shares, GLW reached a trading volume of 17674716 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $37.72 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.
Deutsche Bank have made an estimate for Corning Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 27, 2023. The new note on the price target was released on January 04, 2023, representing the official price target for Corning Incorporated stock.
The Average True Range (ATR) for Corning Incorporated is set at 0.65, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 2.36, with the Price to Cash per share for the same quarter was set at 1.95. Price to Free Cash Flow for GLW in the course of the last twelve months was 364.42 with Quick ratio for the last quarter at 0.90.
How has GLW stock performed recently?
Corning Incorporated [GLW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.39. With this latest performance, GLW shares gained by 2.53% in over the last four-week period, additionally plugging by 6.94% over the last 6 months – not to mention a drop of -3.09% 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 42.16, with the RSI for the last a single of trading hit 35.61, and the three-weeks RSI is set at 44.94 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 34.30, while it was recorded at 34.16 for the last single week of trading, and 33.77 for the last 200 days.
Corning Incorporated [GLW]: Deeper insight into the fundamentals
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 Total Capital for GLW is now 8.69, given the latest momentum, and Return on Invested Capital for the company is 6.66. Return on Equity for this stock inclined to 10.81, with Return on Assets sitting at 4.41. When it comes to the capital structure of this company, Corning Incorporated [GLW] has a Total Debt to Total Equity ratio set at 65.10. Additionally, GLW Total Debt to Total Capital is recorded at 39.43, with Total Debt to Total Assets ending up at 26.50. Long-Term Debt to Equity for the company is recorded at 62.31, with the Long-Term Debt to Total Capital now at 37.74.
Reflecting on the efficiency of the workforce at the company, Corning Incorporated [GLW] managed to generate an average of $22,887 per employee. Receivables Turnover for the company is 7.59 with a Total Asset Turnover recorded at a value of 0.47.Corning Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.
Earnings analysis for Corning Incorporated [GLW]
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%.
Insider trade positions for Corning Incorporated [GLW]
There are presently around $19,676 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 $1.87 billion in GLW stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.17 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 524 institutional holders increased their position in Corning Incorporated [NYSE:GLW] by around 34,598,923 shares. Additionally, 506 investors decreased positions by around 30,833,845 shares, while 219 investors held positions by with 520,165,520 shares. The mentioned changes placed institutional holdings at 585,598,288 shares, according to the latest SEC report filing. GLW stock had 133 new institutional investments in for a total of 6,214,429 shares, while 93 institutional investors sold positions of 3,428,557 shares during the same period.