A new trading day began on Friday, with Corning, Inc (NYSE: GLW) stock price up 1.62% from the previous day of trading, before settling in for the closing price of $47.59. GLW’s price has ranged from $26.41 to $51.03 over the past 52 weeks.
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Annual sales at Technology sector company grew by 2.83% over the past five years. Meanwhile, its annual earnings per share averaged 14.70%. With a float of $775.89 million, this company’s outstanding shares have now reached $820.00 million.
Let’s look at the performance matrix of the company that is accounted for 49800 employees. In terms of profitability, gross margin is 31.64%, operating margin of 6.5%, and the pretax margin is 2.68%.
Corning, Inc (GLW) Insider Updates
As we move forward, let’s examine how large-scale investors are investing in this stock of the Electronic Components Industry. The insider ownership of Corning, Inc is 9.33%, while institutional ownership is 73.98%. The most recent insider transaction that took place on Oct 31 ’24, was worth 4,836,150. In this transaction Chairman and CEO of this company sold 100,000 shares at a rate of $48.36, taking the stock ownership to the 859,364 shares. Before that another transaction happened on Oct 30 ’24, when Company’s Exec. Vice President and CFO sold 21,948 for $48.07, making the entire transaction worth $1,055,078. This insider now owns 79,907 shares in total.
Corning, Inc (GLW) Performance Highlights and Predictions
In its latest quarterly report, released on 9/30/2024, the company reported earnings of 0.39 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.49 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 14.70% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 16.05% during the next five years compared to -9.80% drop over the previous five years of trading.
Corning, Inc (NYSE: GLW) Trading Performance Indicators
Here are Corning, Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 1.05. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 3.33. Likewise, its price to free cash flow for the trailing twelve months is 40.47.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.18, a number that is poised to hit 0.56 in the next quarter and is forecasted to reach 2.31 in one year’s time.
Technical Analysis of Corning, Inc (GLW)
Corning, Inc (NYSE: GLW) saw its 5-day average volume 8.24 million, a positive change from its year-to-date volume of 5.75 million. As of the previous 9 days, the stock’s Stochastic %D was 37.33%. Additionally, its Average True Range was 1.16.
During the past 100 days, Corning, Inc’s (GLW) raw stochastic average was set at 80.90%, which indicates a significant increase from 50.09% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 26.65% in the past 14 days, which was lower than the 32.70% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $44.52, while its 200-day Moving Average is $37.91. Nevertheless, the first resistance level for the watch stands at $48.71 in the near term. At $49.06, the stock is likely to face the second major resistance level. The third major resistance level sits at $49.71. If the price goes on to break the first support level at $47.71, it is likely to go to the next support level at $47.06. Assuming the price breaks the second support level, the third support level stands at $46.71.
Corning, Inc (NYSE: GLW) Key Stats
With a market capitalization of 42.05 billion, the company has a total of 855,701K Shares Outstanding. Currently, annual sales are 12,588 M while annual income is 581,000 K. The company’s previous quarter sales were 3,251 M while its latest quarter income was 104,000 K.
