Today, Corning, Inc. (NYSE: GLW) Takes Center Stage

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Most recently, Yahoo Finance reported about the stock as it publicized that Corning Reports Fourth-Quarter and Full-Year 2023 Financial Results.

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Stocks Info

The company is listed on the NYSE and operates within the Electronic Components industry segment. The current market capitalization of Corning, Inc. is $27.72B. A total of 10.1 million shares were traded on the day, compared to an average of 4.36M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, GLW has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 139 BUYs and 71 SELLs from insiders. Insiders purchased 1,921,269 shares during that period but sold 1,374,760.

In the most recent transaction, McRae Lawrence D sold 18,200 shares of GLW for 30.15 per share on Dec 21. After the transaction, the Vice Chairman & Corp. Dev. Off now owns 205,258 company shares. In a previous transaction on Jul 26, WEEKS WENDELL P sold 100,000 shares at 33.78 per share. GLW shares that Chairman and CEO owns now total 847,474.

Among the insiders who sold shares, STEVERSON LEWIS A disposed of 16,710 shares on Jul 26 at a per-share price of $34.25. This resulted in the EVP and CLAO holding 29,378 shares of GLW after the transaction. In another insider transaction, Bell Michael Alan sold 35,045 shares at $35.00 per share on Jun 16. Company shares held by the Senior VP & GM, Optical Comm. now total 0.

Dividend

The dividend paying company demonstrates a positive outlook for investors and helps them generate immediate cash. Corning, Inc. pays an annual dividend of $1.14, resulting in a dividend yield of 3.52%, and it has a price to earnings (P/E) ratio of 48.07. GLW’s most recent ex-dividend date was 11/16/2023 when it declared a $0.28 quarterly dividend that was paid in cash on 12/15/2023. Previously, the company paid the dividend on 9/28/2023 with an ex-dividend date of 8/30/2023. The GLW stock dividend was $0.28 per share in cash.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for GLW in the last 3 months, the mean price target is $34.21 with high estimates of $40.00 and low estimates of $29.00. In terms of 52-week highs and lows, GLW has a high of $36.44 and a low of $25.26.

As of this writing, GLW has an earnings estimate of $0.38 per share for the current quarter. EPS was calculated based on a consensus of 10 estimates, with a high estimate of $0.43 per share and a lower estimate of $0.33. The company reported an EPS of $0.45 in the last quarter, which was -4.30% lower than expectations of $0.47.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. GLW’s latest balance sheet shows that the firm has $2.15B in Cash & Short Term Investments as of fiscal 2021. There were $7.83B in debt and $4.81B in liabilities at the time. Its Book Value Per Share was $14.09, while its Total Shareholder’s Equity was $12.54B.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for GLW is Buy with a score of 3.90.

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