In Tuesday’s Wall Street session, Corning, Inc (NYSE:GLW) shares traded at $44.46, up 0.82% from the previous session.
GLW stock price is now -2.94% away from the 50-day moving average and -3.36% away from the 200-day moving average. The market capitalization of the company currently stands at $38.09B.
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, WEEKS WENDELL P, Chairman and CEO sold 55,831 shares of the company’s stock on Feb 28 ’25. The stock was sold for $2,797,853 at an average price of $50.11. Upon completion of the transaction, the Chairman and CEO now directly owns 762,820 shares in the company, valued at $33.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 27 ’25, Chairman and CEO WEEKS WENDELL P sold 44,169 shares of the business’s stock. A total of $2,210,111 was realized by selling the stock at an average price of $50.04. This leaves the insider owning 818,651 shares of the company worth $36.4 million. A total of 8.69% of the company’s stock is owned by insiders.
During the past 12 months, Corning, Inc has had a low of $31.37 and a high of $55.33. As of last week, the company has a debt-to-equity ratio of 0.76, 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 $44481470464, which is based on a 76.16 price-to-earnings ratio, a 5.15 price-to-earnings-growth ratio, and a beta of 1.08. The fifty day moving average price for GLW is $45.8072 and a two-hundred day moving average price translates $46.0077 for the stock.
The latest earnings results from Corning, Inc (NYSE: GLW) was released for 2024-12-31. The net profit margin was 3.86% and return on equity was 4.55% for GLW. The company reported revenue of $3.5 billion for the quarter, compared to $2.99 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.93 percent.
