In yesterday’s Wall Street session, Corning, Inc. (NYSE:GLW) shares traded at $46.89, down -0.89% from the previous session.
GLW stock price is now 7.64% away from the 50-day moving average and 25.67% away from the 200-day moving average. The market capitalization of the company currently stands at $40.12B.
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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, Bayne John P JR, Retired Senior Vice President sold 5,000 shares of the company’s stock on Sep 13 ’24. The stock was sold for $212,500 at an average price of $42.50. Upon completion of the transaction, the Retired Senior Vice President now directly owns 11,700 shares in the company, valued at $0.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06 ’24, affiliate Bayne John P JR bought 5,000 shares of the business’s stock. A total of $203,250 was incurred on buying the stock at an average price of $40.65. A total of 9.33% 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 $47.45. 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 $47243812864, which is based on a 92.52 price-to-earnings ratio, a 6.60 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for GLW is $43.5606 and a two-hundred day moving average price translates $37.31125 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.
