NYSE:GLW

Corning - GLW Stock Forecast, Price & News

$29.02

-0.60 (-2.03%)

(As of 09/30/2022 12:00 AM ET)

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Today's Range: $28.98
▼
$29.92
50-Day Range: $29.02
▼
$37.54
52-Week Range: $28.98
▼
$43.47

Volume: 4.32 million shs
Average Volume: 4.97 million shs
Market Capitalization: $24.53 billion

P/E Ratio: 12.45
Dividend Yield: 3.65%
Price Target: $40.27

Corning MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.55 Rating Score
Upside/Downside: 38.8% Upside
$40.27 Price Target
Short Interest: Healthy
1.41% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.00
Based on 4 Articles This Week
Insider Trading: Selling Shares
$204,603 Sold Last Quarter
Proj. Earnings Growth: 11.71%
From $2.22 to $2.48 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.27 out of 5 stars

Computer And Technology Sector

20th out of 650 stocks

Nonferrous Wiredrawing & Insulating Industry

1st out of 2 stocks

4.3

Analyst's Opinion

Consensus Rating
Corning has received a consensus rating of Buy. The company's average rating score is 2.55, and is based on 6 buy ratings, 5 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $40.27, Corning has a forecasted upside of 38.8% from its current price of $29.02.
Amount of Analyst Coverage
Corning has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
1.41% of the float of Corning has been sold short.
Short Interest Ratio / Days to Cover
Corning has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Corning has recently increased by 5.39%, indicating that investor sentiment is decreasing significantly.

5.0

Dividend Strength

Dividend Leadership
Corning is a leading dividend payer. It pays a dividend yield of 3.65%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Corning has been increasing its dividend for 11 years.
Dividend Coverage
The dividend payout ratio of Corning is 46.35%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Corning will have a dividend payout ratio of 43.55% next year. This indicates that Corning will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for GLW.

1.1

News and Social Media Coverage

News Sentiment
Corning has a news sentiment score of 0.00. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.53 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for Corning this week, compared to 7 articles on an average week.
Search Interest
Only 22 people have searched for GLW on MarketBeat in the last 30 days. This is a decrease of -4% compared to the previous 30 days.
MarketBeat Follows
Only 15 people have added Corning to their MarketBeat watchlist in the last 30 days. This is a decrease of -64% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Corning insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $204,603.00 in company stock.
Percentage Held by Insiders
Only 0.36% of the stock of Corning is held by insiders.
Percentage Held by Institutions
69.00% of the stock of Corning is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Corning are expected to grow by 11.71% in the coming year, from $2.22 to $2.48 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Corning is 12.45, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 119.47.
Price to Earnings Ratio vs. Sector
The P/E ratio of Corning is 12.45, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 358.15.
Price to Earnings Growth Ratio
Corning has a PEG Ratio of 2.08. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Corning has a P/B Ratio of 1.97. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Corning (NYSE:GLW) Stock

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

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GLW Stock News Headlines

September 28, 2022 | msn.com

Man arrested after assaulting Corning police officer, attacking school bus

September 28, 2022 | fool.com

Corning (NYSE: GLW)

September 27, 2022 | benzinga.com

Radisson Hotel Corning to Host Groundbreaking Ceremony and Business After Hours Oct 13 to Celebrate Launc - Benzinga

September 26, 2022 | seekingalpha.com

Corning Stock: I'm Picking Up This A-Quality Gem On The Cheap (NYSE:GLW) - Seeking Alpha

September 20, 2022 | finance.yahoo.com

Corning's (NYSE:GLW) three-year total shareholder returns outpace the underlying earnings growth

September 20, 2022 | americanbankingnews.com

Brokerages Set Corning Incorporated (NYSE:GLW) Target Price at $40.64

September 20, 2022 | seekingalpha.com

Corning Stock: This Is Getting Ridiculous (NYSE:GLW) - Seeking Alpha

September 15, 2022 | businesswire.com

Owens Corning Declares Third-Quarter 2022 Dividend - Business Wire

September 15, 2022 | seekingalpha.com

Corning gets ~$104M in additional funding for planned glass tubing & vial manufacturing - Seeking Alpha

September 15, 2022 | globenewswire.com

Corning Receives Nearly $104 Million in Additional Funding from BARDA for Planned Domestic Glass Tubing and Vial Manufacturing - GlobeNewswire

September 15, 2022 | finance.yahoo.com

Corning Receives Nearly $104 Million in Additional Funding from BARDA for Planned Domestic Glass Tubing and Vial Manufacturing

September 15, 2022 | marketwatch.com

Corning Inc. stock remains steady Wednesday, underperforms market - MarketWatch

September 13, 2022 | seekingalpha.com

Corning Incorporated (GLW) Management Presents at 2022 Goldman Sachs Communacopia + Technology Conference (Transcript) - Seeking Alpha

September 13, 2022 | barrons.com

Corning Trims Third-Quarter Sales Outlook as Demand For TVs Slows - Barron's

September 10, 2022 | nasdaq.com

Corning (NYSE:GLW) Seems To Use Debt Quite Sensibly - Nasdaq

September 9, 2022 | benzinga.com

Corning (NYSE:GLW) – What 6 Analyst Ratings Have To Say About Corning - Benzinga

September 8, 2022 | seekingalpha.com

Corning Incorporated (GLW) Citi's 2022 Global Technology Conference Transcript - Seeking Alpha

September 8, 2022 | globenewswire.com

Corning Opens Optical Fiber Manufacturing Plant in Poland to Meet Growing Demand for High-Speed Connectivity in Europe - GlobeNewswire

September 6, 2022 | businesswire.com

Did You Have a Dow Corning Breast Implant? - Claimants' Advisory Committee - Business Wire

September 1, 2022 | bizjournals.com

Behind the deal: Corning, AT&T see new Arizona plant as gateway to the West

August 31, 2022 | finance.yahoo.com

Corning (GLW) Stock Moves -0.58%: What You Should Know - Yahoo Finance

August 31, 2022 | finance.yahoo.com

Corning (GLW) Stock Moves -0.58%: What You Should Know

August 31, 2022 | streetinsider.com

Corning Announces New Optical Cable Manufacturing Facility Supported by AT&T and Record Industry Broadband Demand - StreetInsider.com

August 31, 2022 | reuters.com

Corning to build new Arizona optical cable factory ahead of U.S. broadband push - Reuters

August 30, 2022 | bizjournals.com

Corning to establish 250-job manufacturing plant in Gilbert

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30 days | 90 days | 365 days | Advanced Chart

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GLW Company Calendar

Last Earnings: 7/26/2022
Ex-Dividend for 9/29 Dividend: 8/30/2022
Dividend Payable: 9/29/2022
Today: 9/30/2022
Next Earnings (Confirmed): 10/25/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Nonferrous wiredrawing & insulating
Sub-Industry: Electronic Components
Sector: Computer and Technology
Current Symbol: NYSE:GLW
CUSIP: 21935010
CIK: 24741
Web: www.corning.com
Phone: (607) 974-9000
Fax: 607-974-2063
Employees: 61,200
Year Founded: 1851

Price Target and Rating

Average Stock Price Forecast: $40.27
High Stock Price Forecast: $50.00
Low Stock Price Forecast: $36.00
Forecasted Upside/Downside: +38.8%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.55
Research Coverage: 11 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.33
Trailing P/E Ratio: 12.45
Forward P/E Ratio: 13.07
P/E Growth: 2.08
Net Income: $1.91 billion
Net Margins: 13.73%
Pretax Margin: 17.57%
Return on Equity: 15.38%
Return on Assets: 6.36%

Debt

Debt-to-Equity Ratio: 0.56
Current Ratio: 1.43
Quick Ratio: 0.91

Sales & Book Value

Annual Sales: $14.08 billion
Price / Sales: 1.74
Cash Flow: $3.74 per share
Price / Cash Flow: 7.76
Book Value: $14.70 per share
Price / Book: 1.97

Miscellaneous

Outstanding Shares: 845,318,000
Free Float: 842,275,000
Market Cap: $24.53 billion
Optionable: Optionable
Beta: 1.00

Social Links

Key Executives

Mr. Wendell P. Weeks (Age 62)
Chairman & CEO
Comp: $12.74M

Mr. Eric S. Musser (Age 62)
Pres & COO
Comp: $4.72M

Mr. Lewis A. Steverson (Age 58)
Exec. VP and Chief Legal & Admin. Officer
Comp: $3.65M

Mr. Lawrence D. McRae (Age 63)
First Vice Chairman & Corp. Devel. Officer
Comp: $3.92M

Mr. Edward A. Schlesinger (Age 54)
Exec. VP & CFO

Mr. Stefan Becker (Age 50)
Sr. VP of Fin., Corp. Controller & Principal Accounting Officer

Dr. Jaymin Amin (Age 54)
Sr. VP & CTO

Ms. Anne Elizabeth Mullins (Age 59)
Sr. VP and Chief Digital & Information Officer

Ms. Ann H. S. Nicholson
VP of Investor Relations

Kevin G. Corliss
VP of Global Employee Relations & Chief Compliance Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

GLW Stock - Frequently Asked Questions

Should I buy or sell Corning stock right now?: 11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 5 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" GLW shares.
View GLW analyst ratings or view top-rated stocks.
What is Corning's stock price forecast for 2022?: 11 equities research analysts have issued 1 year target prices for Corning's shares. Their GLW share price forecasts range from $36.00 to $50.00. On average, they expect the company's stock price to reach $40.27 in the next year. This suggests a possible upside of 37.6% from the stock's current price.
View analysts price targets for GLW or view top-rated stocks among Wall Street analysts.
How have GLW shares performed in 2022?: Corning's stock was trading at $37.23 at the start of the year. Since then, GLW shares have decreased by 21.4% and is now trading at $29.26.
View the best growth stocks for 2022 here.
When is Corning's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 25th 2022.
View our GLW earnings forecast.
How can I listen to Corning's earnings call?: Corning will be holding an earnings conference call on Tuesday, October 25th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.
How were Corning's earnings last quarter?: Corning Incorporated (NYSE:GLW) issued its quarterly earnings results on Tuesday, July, 26th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The electronics maker earned $3.76 billion during the quarter, compared to the consensus estimate of $3.79 billion. Corning had a net margin of 13.73% and a trailing twelve-month return on equity of 15.38%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share.
Read the conference call transcript.
How often does Corning pay dividends? What is the dividend yield for Corning?: Corning declared a quarterly dividend on Thursday, June 30th. Investors of record on Wednesday, August 31st will be given a dividend of $0.27 per share on Thursday, September 29th. This represents a $1.08 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Tuesday, August 30th.
Read our dividend analysis for GLW.
Is Corning a good dividend stock?: Corning (NYSE:GLW) pays an annual dividend of $1.08 per share and currently has a dividend yield of 3.61%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 46.35%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GLW will have a dividend payout ratio of 43.55% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

What guidance has Corning issued on next quarter's earnings?: Corning updated its FY 2022 earnings guidance on Thursday, August, 4th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $15.00B-, compared to the consensus revenue estimate of $15.35 billion.
What is Wendell P. Weeks' approval rating as Corning's CEO?: 413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.
What other stocks do shareholders of Corning own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).
What is Corning's stock symbol?: Corning trades on the New York Stock Exchange (NYSE) under the ticker symbol "GLW."
How do I buy shares of Corning?: Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Corning's stock price today?: One share of GLW stock can currently be purchased for approximately $29.26.
How much money does Corning make?: Corning (NYSE:GLW) has a market capitalization of $24.73 billion and generates $14.08 billion in revenue each year. The electronics maker earns $1.91 billion in net income (profit) each year or $2.33 on an earnings per share basis.
How many employees does Corning have?: The company employs 61,200 workers across the globe.
Does Corning have any subsidiaries?: The following companies are subsidiares of Corning: 3M Communication, Alliance Fiber Optic Products Inc., Axygen BioScience Inc., Axygen Holdings Corporation, Axygen Inc., CCS Holdings Inc., Chengdu Honing Display Glass Co. Ltd., Corning (Hainan) Optical Communications Co. Ltd., Corning (Shanghai) Co. Ltd., Corning B.V., Corning China (Shanghai) Regional Headquarter, Corning Display Technologies (China) Co. Ltd., Corning Display Technologies (Chongqing) Co. Ltd., Corning Display Technologies (Guangzhou) Co. Ltd., Corning Display Technologies (Hefei) Co. Ltd., Corning Display Technologies (Wuhan) Co. Ltd., Corning Display Technologies Taiwan Co. Ltd., Corning Environmental Technologies (Hefei) Co. Ltd., Corning Finance B.V., Corning Finance Luxembourg S.à.r.l., Corning GmbH, Corning Holding GmbH, Corning Hungary Data Services Limited Liability Company, Corning International Corporation, Corning International Luxembourg S.à.r.l., Corning International Netherlands B.V., Corning Japan K.K., Corning Luxembourg S.à.r.l., Corning NetOptix Inc., Corning Oak Holding LLC, Corning Optical Communications GmbH & Co. KG, Corning Optical Communications Holding Co. Inc., Corning Optical Communications LLC, Corning Optical Communications Polska Sp.zo.o., Corning Optical Communications Pty. Ltd, Corning Optical Communications RF LLC, Corning Optical Communications Vermoegensverwaltungsgesellschaft mbH, Corning Optical Fiber Cable (Chengdu) Co. Ltd., Corning Pharmaceutical Glass LLC, Corning Precision Materials Co. Ltd., Corning Property Management Corporation, Corning Research & Development Corporation, Corning SAS, Corning SK Luxembourg S.a r.l., Corning Singapore Holdings Private Limited, Corning Specialty Materials Inc., Corning Technologies (H.K.) Limited, Corning Technologies India Private Limited, Corning Technologies SARL, Corning Telecommunications Luxembourg S.à.r.l., Corning Tropel Corporation, Corning Ventures France SAS, Corning Ventures S.à.r.l., DC HSC Holdings LLC, Discovery Labware Inc., Eurokera (Thailand) Limited, Eurokera Guangzhou Co. Ltd., Eurokera North America Inc., Eurokera S.N.C., Gerresheimer AG, Hemlock Semiconductor L.L.C., Keraglass S.N.C., Mediatech Inc., MobileAccess Networks, Phoenix Venture Partners II LP, Photonics Technology Research Center, STRAN Technologies, Saint-Gobain Corning Automotive Glazing S.N.C., Samsung Corning Advanced Glass LLC, SpiderCloud Wireless, TR Manufacturing LLC, US Conec Ltd., Xianyang Honing Display Glass Co. Ltd., and iBwave Solutions Inc..
Read More
How can I contact Corning?: Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The official website for the company is www.corning.com. The electronics maker can be reached via phone at (607) 974-9000, via email at irinfo@corning.com, or via fax at 607-974-2063.

This page (NYSE:GLW) was last updated on 9/30/2022 by MarketBeat.com Staff

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Corning - GLW Stock Forecast, Price & News

Corning MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows