There is little time left for Corning Incorporated (GLW) to reach its 1-year target estimate. How soon will it surpass it?

Corning Incorporated (NYSE:GLW) shares traded 0.57% higher at $31.50 on Wall Street last session.

In accordance with the data, 16 analysts cover Corning Incorporated (NYSE:GLW). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $30.00, we find $38.00. Given the previous closing price of $31.32, this indicates a potential upside of 21.33 percent. GLW stock price is now -4.79% away from the 50-day moving average and -6.05% away from the 200-day moving average. The market capitalization of the company currently stands at $26.75B.

It has been rated a hold by 5 analysts and a buy by 8. Brokers who have rated the stock have averaged $37.50 as their price target over the next twelve months.

.

In other news, Evenson Jeffrey W, Exec. VP & Chief Strategy Off sold 20,528 shares of the company’s stock on May 15. The stock was sold for $637,203 at an average price of $31.04. Upon completion of the transaction, the Exec. VP & Chief Strategy Off now directly owns 91,782 shares in the company, valued at $2.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, Retired Senior Vice President Mullins Anne sold 49,882 shares of the business’s stock. A total of $1,563,087 was realized by selling the stock at an average price of $31.34. Insiders disposed of 1,050,422 shares of company stock worth roughly $33.09 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in GLW stock. A new stake in Corning Incorporated shares was purchased by DONALDSON CAPITAL MANAGEMENT, LLC during the first quarter worth $35,908,000. WOODLINE PARTNERS LP invested $31,348,000 in shares of GLW during the first quarter. In the first quarter, PAYDEN & RYGEL acquired a new stake in Corning Incorporated valued at approximately $16,933,000. GODSEY & GIBB, INC acquired a new stake in GLW for approximately $14,879,000. SORA INVESTORS LLC purchased a new stake in GLW valued at around $11,025,000 in the second quarter. In total, there are 1,480 active investors with 70.00% ownership of the company’s stock.

Corning Incorporated (NYSE: GLW) opened at $31.35 on Monday. During the past 12 months, Corning Incorporated has had a low of $28.98 and a high of $37.73. As of last week, the company has a debt-to-equity ratio of 0.57, a current ratio of 1.40, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $32.77B, which is based on a 29.63 price-to-earnings ratio, a 3.61 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for GLW is $33.05 and a two-hundred day moving average price translates $33.50 for the stock.

The latest earnings results from Corning Incorporated (NYSE: GLW) was released for Mar, 2023. According to the Electronic Components Company, earnings per share came in at $0.41, beating analysts’ expectations of $0.39 by 0.02. This compares to $0.70 EPS in the same period last year. The net profit margin was 6.70% and return on equity was 7.80% for GLW. The company reported revenue of $3.18 billion for the quarter, compared to $3.68 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.64 percent. For the current quarter, analysts expect GLW to generate $3.49B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 06/29/2023. Investors who held shares on 05/31/2023 were paid a $0.28 dividend. On an annualized basis, this represents a $1.12 dividend and a 3.56% percent yield. There was an ex-dividend date of 05/30/2023 for this dividend. In terms of dividend payout ratio, GLW is presently at 100.90%.

Corning Incorporated(GLW) Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. 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, Falcon, Pyrex, and Axygen brands. Corning Incorporated was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. The company was founded in 1851 and is headquartered in Corning, New York.