Corning, Inc. (NYSE:GLW) shares traded -1.92% lower at $41.27 on Wall Street last session.
GLW stock price is now 1.01% away from the 50-day moving average and 21.24% away from the 200-day moving average. The market capitalization of the company currently stands at $35.31B.
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With the price target enhanced from $44 to $47, Mizuho Upgraded its rating from Neutral to Outperform for Corning, Inc. (NYSE: GLW). On July 31, 2024, Deutsche Bank Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $46, while ‘HSBC Securities’ rates the stock as ‘Hold’
In other news, Evenson Jeffrey W, Exec. VP & Chief Strategy Off sold 2,483 shares of the company’s stock on Aug 20 ’24. The stock was sold for $100,463 at an average price of $40.46. Upon completion of the transaction, the Exec. VP & Chief Strategy Off 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 Aug 20 ’24, Officer Jeffrey Evenson bought 2,483 shares of the business’s stock. A total of $100,462 was incurred on buying the stock at an average price of $40.46. A total of 9.46% 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 $46.39. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 1.57, and a quick ratio of 0.98. According to the stock market information, the enterprise value for the company is $42434772992, which is based on a 81.43 price-to-earnings ratio, a 5.87 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for GLW is $40.9338 and a two-hundred day moving average price translates $34.10755 for the stock.
The latest earnings results from Corning, Inc. (NYSE: GLW) was released for 2024-06-30. The net profit margin was 3.53% and return on equity was 3.97% for GLW. The company reported revenue of $3.25 billion for the quarter, compared to $3.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.25 percent.
