Corning Incorporated [GLW] Revenue clocked in at $13.69 billion, down -4.10% YTD: What’s Next?

Corning Incorporated [NYSE: GLW] loss -1.83% or -0.57 points to close at $30.63 with a heavy trading volume of 3696367 shares. The company report on April 27, 2023 at 10:09 AM that Corning Announces Quarterly Dividend.

Caution Concerning Forward-Looking StatementsThe statements contained in this release and related comments by management that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” and “target” and similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the Company’s future operating performance, the Company’s share of new and existing markets, the Company’s revenue and earnings growth rates, the Company’s ability to innovate and commercialize new products, the Company’s expected capital expenditure and the Company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the Company’s manufacturing capacity.

Unlock the Hottest Top 10 Penny Stocks Today! Discover Now

Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.

Gain Access to Top 10 Penny Stocks Now!.


It opened the trading session at $30.92, the shares rose to $31.16 and dropped to $30.60, the range by which the price of stock traded the whole day. The daily chart for GLW points out that the company has recorded -11.11% loss over the past six months. However, it is still -5.69% lower than its most recent low trading price.

If we look at the average trading volume of 4.26M shares, GLW reached to a volume of 3696367 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 $37.09 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 2.10. 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 0.61, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 1.90. The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 1.35.

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 -1.70. With this latest performance, GLW shares dropped by -11.83% in over the last four-week period, additionally sinking by -11.11% over the last 6 months – not to mention a drop of -13.82% 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 29.18, with the RSI for the last a single of trading hit 24.84, and the three-weeks RSI is set at 33.26 for Corning Incorporated [GLW]. The present Moving Average for the last 50 days of trading for this stock 33.27, while it was recorded at 31.02 for the last single week of trading, and 33.60 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 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 0.80 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 8.21%.

An analysis of insider ownership at Corning Incorporated [GLW]

There are presently around $18,588 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 97,290,989, which is approximately 0.098% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 55,453,638 shares of the stock with an approximate value of $1.73 billion in GLW stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.05 billion in GLW stock with ownership of nearly -3.962% 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 32,674,835 shares. Additionally, 511 investors decreased positions by around 22,302,608 shares, while 234 investors held positions by with 540,795,421 shares. The mentioned changes placed institutional holdings at 595,772,864 shares, according to the latest SEC report filing. GLW stock had 101 new institutional investments in for a total of 5,557,500 shares, while 86 institutional investors sold positions of 1,817,244 shares during the same period.


Please enter your comment!
Please enter your name here