When is the right time to cash out of Corning, Inc. [GLW] stock?

In yesterday’s Wall Street session, Corning, Inc. (NYSE:GLW) shares traded at $28.95, up 1.72% from the previous session.

As of this writing, 15 analysts cover Corning, Inc. (NYSE:GLW). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $28.00, we find $32.00. Given the previous closing price of $28.46, this indicates a potential upside of 12.44 percent. GLW stock price is now -0.56% away from the 50-day moving average and -10.55% away from the 200-day moving average. The market capitalization of the company currently stands at $24.70B.

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There are 6 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $32.50 as their price target over the next twelve months.

With the price target reduced from $37 to $30, Deutsche Bank Downgraded its rating from Buy to Hold for Corning, Inc. (NYSE: GLW).

In other news, WEEKS WENDELL P, Chairman and CEO sold 100,000 shares of the company’s stock on Jul 26. The stock was sold for $3,378,000 at an average price of $33.78. Upon completion of the transaction, the Chairman and CEO now directly owns 847,474 shares in the company, valued at $24.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 26, EVP and CLAO STEVERSON LEWIS A sold 16,710 shares of the business’s stock. A total of $572,324 was realized by selling the stock at an average price of $34.25. This leaves the insider owning 29,378 shares of the company worth $0.85 million. Insiders disposed of 1,393,663 shares of company stock worth roughly $40.35 million over the past 1 year. A total of 9.71% of the company’s stock is owned by insiders.

Wednesday morning saw Corning, Inc. (NYSE: GLW) opened at $28.65. During the past 12 months, Corning, Inc. has had a low of $25.26 and a high of $37.10. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 1.70, and a quick ratio of 1.08. According to the stock market information, the enterprise value for the company is $31.52B, which is based on a 42.56 price-to-earnings ratio, a 6.76 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for GLW is $29.06 and a two-hundred day moving average price translates $32.34 for the stock.

The latest earnings results from Corning, Inc. (NYSE: GLW) was released for Sep, 2023. According to the Electronic Components Company, earnings per share came in at $0.45, missing analysts’ expectations of $0.47 by -0.02. This compares to $0.26 EPS in the same period last year. The net profit margin was 4.50% and return on equity was 5.15% for GLW. The company reported revenue of $3.17 billion for the quarter, compared to $3.49 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.03 percent. For the current quarter, analysts expect GLW to generate $3.26B in revenue.

Corning, Inc.(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.

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