In yesterday’s Wall Street session, Corning, Inc (NYSE:GLW) shares traded at $52.08, up 4.18% from the previous session.
GLW stock price is now 6.93% away from the 50-day moving average and 21.63% away from the 200-day moving average. The market capitalization of the company currently stands at $44.59B.
With the price target enhanced from $51 to $60, HSBC Securities Upgraded its rating from Hold to Buy for Corning, Inc (NYSE: GLW). On August 21, 2024, Mizuho Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock increasing its target price from $44 to quote $47, while ‘Deutsche Bank’ rates the stock as ‘Buy’
In other news, Bell Michael Alan, Retired Sr VP & GM, Opt Comm. sold 2,209 shares of the company’s stock on Jan 30 ’25. The stock was sold for $110,165 at an average price of $49.87. Upon completion of the transaction, the Retired Sr VP & GM, Opt 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 Jan 31 ’25, Officer Eric Musser bought 30,000 shares of the business’s stock. A total of $1,557,600 was incurred on buying the stock at an average price of $51.92. A total of 9.00% of the company’s stock is owned by insiders.
During the past 12 months, Corning, Inc has had a low of $30.72 and a high of $55.33. As of last week, the company has a debt-to-equity ratio of 0.67, a current ratio of 1.62, and a quick ratio of 1.07. According to the stock market information, the enterprise value for the company is $50955575296, which is based on a 88.90 price-to-earnings ratio, a 6.32 price-to-earnings-growth ratio, and a beta of 1.02. The fifty day moving average price for GLW is $48.7032 and a two-hundred day moving average price translates $42.81945 for the stock.
The latest earnings results from Corning, Inc (NYSE: GLW) was released for 2024-09-30. The net profit margin was 3.86% and return on equity was 4.55% for GLW. The company reported revenue of $3.39 billion for the quarter, compared to $3.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.87 percent.
