The stock of Corning, Inc. (NYSE:GLW) last traded at $36.48, up 2.70% from the previous session.
GLW stock price is now 11.30% away from the 50-day moving average and 17.69% away from the 200-day moving average. The market capitalization of the company currently stands at $31.25B.
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With the price target of $36, Mizuho recently initiated with Neutral rating for Corning, Inc. (NYSE: GLW). On April 08, 2024, UBS reiterated its ‘Neutral’ rating on the stock by increasing its target price from $34 to quote $35, while ‘HSBC Securities’ rates the stock as ‘Reduce’
In other news, Bell Michael Alan, Senior VP & GM, Optical Comm. sold 20,152 shares of the company’s stock on May 14 ’24. The stock was sold for $705,320 at an average price of $35.00. Upon completion of the transaction, the Senior VP & GM, Optical Comm. now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09 ’24, Senior Vice President & CDIO Seetharam Soumya sold 23,291 shares of the business’s stock. A total of $792,211 was realized by selling the stock at an average price of $34.01. This leaves the insider owning 50,000 shares of the company worth $1.82 million. A total of 9.69% of the company’s stock is owned by insiders.
During the past 12 months, Corning, Inc. has had a low of $25.26 and a high of $36.01. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 1.67, and a quick ratio of 1.02. According to the stock market information, the enterprise value for the company is $38508470272, which is based on a 51.13 price-to-earnings ratio, a 4.58 price-to-earnings-growth ratio, and a beta of 1.06. The fifty day moving average price for GLW is $32.8486 and a two-hundred day moving average price translates $31.01275 for the stock.
The latest earnings results from Corning, Inc. (NYSE: GLW) was released for 2024-03-31. The net profit margin was 4.96% and return on equity was 5.30% for GLW. The company reported revenue of $2.98 billion for the quarter, compared to $3.18 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.39 percent.
