Corning, Inc. (NYSE:GLW) traded at $33.38 at close of the session on Tuesday, April 30, made an upward move of 5.03% on its previous day’s price.
Looking at the stock we see that its previous close was $31.78 . The company has a trailing 12-month PE ratio of 49.39. In terms of its 52-week price range, GLW has a high of $36.01 and a low of $25.26. The company’s stock has gained about 2.17% over that past 30 days.
Corning, Inc. has a market cap of $28.55 billion. With its Forward Dividend at 1.12 and a yield of 3.36%, the company’s investors could be anxious for the GLW stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.35, with the EPS growth for the year raised at $1.87 for 2024 and $2.18 for next year. These figures represent 10.00% and 16.60% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $3.12 billion, with a low of $3.08 billion and a high of $3.15 billion. The median projection represents growth adding up to -7.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $13.56 billion, or -0.20% down from figures reported last year.
On the other hand, looking at the outlook for the GLW stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the GLW stock currently stands at 6.17, and the current price level is 5.16% off its SMA20 and 3.49% from its 50-day simple moving average. The RSI (14) is pointing at 66.49 while the volatility over the past week is 1.98% and jumps to 1.67% over the past one month. The beta value is 1.09, while the average true range (ATR) is currently pointing at 0.66.
Coming back to Corning, Inc. (NYSE:GLW), we note that the average 3-month trading volume was 4.62 million. Current shares outstanding are 820.00 million.
The insiders hold 9.71% of the company’s shares while institutions hold 70.59%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 9.62% up in year-to-date price movement.
