Financial Metrics Exploration: Understanding Corning, Inc. (GLW) Through Ratios

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The closing price of Corning, Inc. (NYSE: GLW) was $39.85 for the day, down -0.90% from the previous closing price of $40.21. In other words, the price has decreased by -$0.90 from its previous closing price. On the day, 9.04 million shares were traded. GLW stock price reached its highest trading level at $40.45 during the session, while it also had its lowest trading level at $39.6112.

Ratios:

Our analysis of GLW’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 25.01 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 38.36. For the most recent quarter (mrq), Quick Ratio is recorded 1.02 and its Current Ratio is at 1.67. In the meantime, Its Debt-to-Equity ratio is 0.74 whereas as Long-Term Debt/Eq ratio is at 0.70.

On June 13, 2024, Morgan Stanley Downgraded its rating to Equal-Weight which previously was Overweight and also upped its target price recommendation from $35 to $38.

JP Morgan Upgraded its Neutral to Overweight on May 30, 2024, whereas the target price for the stock was revised from $37 to $43.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jun 05 ’24 when Evenson Jeffrey W sold 12,830 shares for $37.39 per share. The transaction valued at 479,664 led to the insider holds 57,280 shares of the business.

Bell Michael Alan sold 20,152 shares of GLW for $705,320 on May 14 ’24. The Senior VP & GM, Optical Comm. now owns 0 shares after completing the transaction at $35.00 per share. On May 09 ’24, another insider, Seetharam Soumya, who serves as the Senior Vice President & CDIO of the company, sold 23,291 shares for $34.01 each. As a result, the insider received 792,211 and left with 50,000 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, GLW now has a Market Capitalization of 34444664832 and an Enterprise Value of 41395277824. As of this moment, Corning,’s Price-to-Earnings (P/E) ratio for their current fiscal year is 55.85, and their Forward P/E ratio for the next fiscal year is 18.17. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.83. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.76 while its Price-to-Book (P/B) ratio in mrq is 2.91. Its current Enterprise Value per Revenue stands at 3.342 whereas that against EBITDA is 15.621.

Stock Price History:

The Beta on a monthly basis for GLW is 1.05, which has changed by 0.17690492 over the last 52 weeks, in comparison to a change of 0.2586832 over the same period for the S&P500. Over the past 52 weeks, GLW has reached a high of $40.25, while it has fallen to a 52-week low of $25.26. The 50-Day Moving Average of the stock is 15.16%, while the 200-Day Moving Average is calculated to be 26.62%.

Shares Statistics:

GLW traded an average of 5.30M shares per day over the past three months and 8391790 shares per day over the past ten days. A total of 820.00M shares are outstanding, with a floating share count of 773.76M. Insiders hold about 9.67% of the company’s shares, while institutions hold 71.71% stake in the company. Shares short for GLW as of 1715731200 were 13830869 with a Short Ratio of 2.44, compared to 1713139200 on 12098198. Therefore, it implies a Short% of Shares Outstanding of 13830869 and a Short% of Float of 1.6199999999999999.

Dividends & Splits

With its trailing 12-month dividend rate of 1.12, GLW has a forward annual dividend rate of 1.12. Against a Trailing Annual Dividend Yield of 0.027853768The stock’s 5-year Average Dividend Yield is 2.95. The current Payout Ratio is 165.58% for GLW, which recently paid a dividend on 2024-05-31 with an ex-dividend date of 1717113600. Stock splits for the company last occurred on 2000-10-04 when the company split stock in a 3:1 ratio.

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