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Corning (GLW) Stock Price, News & Analysis

$44.88
+0.29 (+0.65%)
(As of 10/4/2024 ET)

About Corning Stock (NYSE:GLW)

Key Stats

Today's Range
$44.43
$45.02
50-Day Range
$37.77
$45.30
52-Week Range
$25.26
$46.39
Volume
2.37 million shs
Average Volume
5.80 million shs
Market Capitalization
$38.45 billion
P/E Ratio
63.21
Dividend Yield
2.50%
Price Target
$47.00
Consensus Rating
Moderate Buy

Company Overview

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. The company's Specialty Materials segment manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for various markets comprising mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Its Environmental Technologies segment provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products, including consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Pyrex, Falcon, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

Corning Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
86th Percentile Overall Score

GLW MarketRank™: 

Corning scored higher than 86% of companies evaluated by MarketBeat, and ranked 149th out of 664 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Corning has received a consensus rating of Moderate Buy. The company's average rating score is 2.64, and is based on 9 buy ratings, 5 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    Corning has been the subject of 13 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Corning's stock forecast and price target.
  • Earnings Growth

    Earnings for Corning are expected to grow by 19.37% in the coming year, from $1.91 to $2.28 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Corning is 63.21, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 118.55.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Corning is 63.21, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 229.16.

  • Price to Earnings Growth Ratio

    Corning has a PEG Ratio of 1.73. PEG Ratios above 1 indicate that a company could be overvalued.

  • Price to Book Value per Share Ratio

    Corning has a P/B Ratio of 3.23. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

  • Read more about Corning's valuation and earnings.
  • Percentage of Shares Shorted

    1.38% of the float of Corning has been sold short.
  • Short Interest Ratio / Days to Cover

    Corning has a short interest ratio ("days to cover") of 1.5, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Corning has recently decreased by 10.03%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Corning pays a meaningful dividend of 2.51%, higher than the bottom 25% of all stocks that pay dividends.

  • Dividend Growth

    Corning has been increasing its dividend for 13 years.

  • Dividend Coverage

    The dividend payout ratio of Corning is 157.75%. Payout ratios above 75% are not desirable because they may not be sustainable.

  • Dividend Sustainability

    Based on earnings estimates, Corning will have a dividend payout ratio of 49.12% next year. This indicates that Corning will be able to sustain or increase its dividend.

  • Read more about Corning's dividend.
  • Percentage of Shares Shorted

    1.38% of the float of Corning has been sold short.
  • Short Interest Ratio / Days to Cover

    Corning has a short interest ratio ("days to cover") of 1.5, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Corning has recently decreased by 10.03%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Corning has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Computer and Technology companies.
  • News Coverage This Week

    MarketBeat has tracked 22 news articles for Corning this week, compared to 13 articles on an average week.
  • Search Interest

    Only 37 people have searched for GLW on MarketBeat in the last 30 days. This is a decrease of -23% compared to the previous 30 days.
  • MarketBeat Follows

    19 people have added Corning to their MarketBeat watchlist in the last 30 days. This is an increase of 27% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Corning insiders have not sold or bought any company stock.

  • Percentage Held by Insiders

    Only 0.40% of the stock of Corning is held by insiders.

  • Percentage Held by Institutions

    69.80% of the stock of Corning is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Corning's insider trading history.
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GLW Stock News Headlines

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GLW Stock Analysis - Frequently Asked Questions

Corning's stock was trading at $30.45 at the beginning of 2024. Since then, GLW shares have increased by 47.4% and is now trading at $44.88.
View the best growth stocks for 2024 here
.

Corning Incorporated (NYSE:GLW) announced its quarterly earnings data on Tuesday, July, 30th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company's revenue for the quarter was up 3.5% compared to the same quarter last year.
Read the conference call transcript
.

Corning subsidiaries include these companies: 3M Communication - Markets Division, SpiderCloud Wireless, STRAN Technologies, Alliance Fiber Optic Products Inc., Gerresheimer AG, iBwave Solutions Inc., Discovery Labware Inc., and others.

Corning's top institutional investors include Cacti Asset Management LLC (0.09%), Handelsbanken Fonder AB (0.05%), Czech National Bank (0.02%) and First Financial Bank Trust Division (0.01%). Insiders that own company stock include Wendell P Weeks, Lawrence D Mcrae, Cheryl C Capps, Cheryl C Capps, Martin J Curran, Jeffrey W Evenson, Lewis A Steverson, Robert P France, John P Bayne Jr, John Z Zhang, Anne Mullins, Li Fang and Michael Alan Bell.
View institutional ownership trends
.

Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU) and Advanced Micro Devices (AMD).

Company Calendar

Last Earnings
7/30/2024
Ex-Dividend for 9/27 Dividend
8/30/2024
Dividend Payable
9/27/2024
Today
10/06/2024
Next Earnings (Confirmed)
10/29/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Nonferrous wiredrawing & insulating
Sub-Industry
Electronic Components
CUSIP
21935010
Employees
49,800
Year Founded
1851

Price Target and Rating

Average Stock Price Target
$47.00
High Stock Price Target
$55.00
Low Stock Price Target
$37.00
Potential Upside/Downside
+4.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.64
Research Coverage
14 Analysts

Profitability

Net Income
$581 million
Pretax Margin
5.22%

Debt

Sales & Book Value

Annual Sales
$12.39 billion
Cash Flow
$3.32 per share
Book Value
$13.91 per share

Miscellaneous

Free Float
853,193,000
Market Cap
$38.45 billion
Optionable
Optionable
Beta
1.04

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This page (NYSE:GLW) was last updated on 10/6/2024 by MarketBeat.com Staff
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