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In the latest session, Corning, Inc. (NYSE: GLW) closed at $45.84 down -0.78% from its previous closing price of $46.20. In other words, the price has decreased by -$0.78 from its previous closing price. On the day, 7.44 million shares were traded. GLW stock price reached its highest trading level at $46.05 during the session, while it also had its lowest trading level at $45.6.
Ratios:
For a deeper understanding of Corning, Inc.’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 28.77 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 44.12. 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 17, 2024, Fox Advisors Upgraded its rating to Overweight which previously was Equal Weight but kept the price unchanged to $45.
Morgan Stanley Downgraded its Overweight to Equal-Weight on June 13, 2024, whereas the target price for the stock was revised from $35 to $38.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. 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 39575826432 and an Enterprise Value of 46526427136. As of this moment, Corning,’s Price-to-Earnings (P/E) ratio for their current fiscal year is 64.25, and their Forward P/E ratio for the next fiscal year is 20.06. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.71. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.17 while its Price-to-Book (P/B) ratio in mrq is 3.34. Its current Enterprise Value per Revenue stands at 3.757 whereas that against EBITDA is 17.557.
Stock Price History:
Over the past 52 weeks, GLW has reached a high of $46.39, while it has fallen to a 52-week low of $25.26. The 50-Day Moving Average of the stock is 20.50%, while the 200-Day Moving Average is calculated to be 41.60%.
Shares Statistics:
For the past three months, GLW has traded an average of 7.35M shares per day and 13529964 over the past ten days. A total of 820.00M shares are outstanding, with a floating share count of 773.77M. Insiders hold about 9.67% of the company’s shares, while institutions hold 71.60% stake in the company. Shares short for GLW as of 1719532800 were 19143947 with a Short Ratio of 2.61, compared to 1717113600 on 12926410. Therefore, it implies a Short% of Shares Outstanding of 19143947 and a Short% of Float of 2.2399999999999998.
Dividends & Splits
According to the company, the forward annual dividend rate for GLW is 1.12, from 1.12 in the trailing year. Against a Trailing Annual Dividend Yield of 0.024242423The stock’s 5-year Average Dividend Yield is 2.96.
