Corning Stock Quote: Upbeat Results and Analyst Forecast

Corning's stock price has been on the rise, thanks to the company's recent earnings report. The company's revenue growth has been impressive, with a 9% increase in the latest quarter.

This uptick in revenue has been driven by strong sales of Corning's Gorilla Glass, which is used in many smartphones and other electronic devices. Analysts expect this trend to continue, with many forecasting a 10% increase in revenue for the next quarter.

Corning's strong financials have also caught the attention of investors, with many buying into the stock in recent months. This increased demand has pushed the stock price up, making it a more attractive option for investors.

As a result, analysts are revising their forecasts for Corning's stock price, with many predicting a price increase of 20% or more in the next year.

For your interest: Stock Price

In 2023, Corning's revenue was a significant $12.59 billion, but unfortunately, it saw a decrease of -11.28% compared to the previous year. This drop in revenue is a notable trend.

Corning's earnings also took a hit, plummeting by -55.85% to $581.00 million. This sharp decline in earnings is a cause for concern.

Here are some key financial metrics that give us a better understanding of Corning's financial health:

Corning's financial performance has been a mixed bag in recent years. In 2023, the company's revenue decreased by 11.28% to $12.59 billion, a significant drop from the previous year's $14.19 billion.

The company's earnings also took a hit, decreasing by 55.85% to $581.00 million. This decline in earnings is a cause for concern, but it's essential to consider the broader context.

Corning's financial strength is still a topic of interest. According to the data, the company's cash-to-debt ratio is 0.19, which indicates a relatively low level of liquidity. In comparison to the industry average, Corning's cash-to-debt ratio is lower.

Here's a comparison of Corning's debt-to-equity ratio with the industry average:

Corning's financial performance has been impacted by various factors, including the decline in earnings. However, the company's Springboard plan and generative AI optical connectivity products are expected to drive higher earnings growth.

According to the analysts' consensus, Corning has 7.72% upside to fair value.

The price target for Corning is $53.35 per share, indicating a potential increase in value.

This information is based on the consensus of 13 analysts, who have collectively determined the fair value of Corning's stock.

These analysts are predicting a significant increase in the stock price. The 12-month stock price forecast is $52.5, which is an increase of 2.70% from the latest price.

Corning's recent quarter was a strong one, with 8% revenue growth and a 20% increase in income.

The company's Q3 results were impressive, beating expectations on both top and bottom lines. This marks a significant shift for Corning, which has been working to drive growth.

Corning is also expanding its partnership with AT&T, signing a multi-year purchase agreement to provide next-generation fiber, cable, and connectivity solutions.

This deal is a big win for Corning, and it's likely to drive future growth and revenue. The partnership will help AT&T stay ahead of the curve in terms of connectivity and technology.

Corning's Board of Directors recently declared a quarterly dividend of $0.28 per share, payable on December 13, 2024.

This dividend is a great opportunity for investors to earn a return on their investment. It's also a sign of Corning's commitment to sharing its success with its shareholders.

Corning's stock recently made a breakout, technically breaking out of the Cup with Handle pattern. This is a classic sign of a stock that's ready to move up.

Additional reading: What Is a Growth Stock vs Value Stock

Corning stock holders can expect a quarterly dividend of $0.28 per share, payable on December 13, 2024.

This dividend payment is a regular occurrence for Corning, as they have a history of maintaining a consistent dividend payout.

The dividend yield percentage for Corning is 2.21%, which is a relatively attractive return for investors.

A dividend payout ratio of 0.63 indicates that Corning is using a significant portion of its earnings to fund its dividend payments.

Corning's dividend growth rate over the past three years has been a respectable 8.4%.

Here are some key dividend metrics for Corning:

Corning's dividend payments are a key aspect of its financial strategy, and investors should consider this when evaluating the stock.

Corning's stock performance has been a mixed bag in recent years. Revenue declined by 11.28% in 2023 compared to the previous year.

In the past 5 trading days, Corning has outperformed the S&P 500 by 0.6%, indicating strong relative strength compared to the major market average. This is a positive sign for investors.

For your interest: Compared to Growth Stocks Value Stocks' Price-earnings Ratio Is Typically

Corning's earnings have been falling on a year-over-year basis for 1 quarter in a row, with the most recent quarter reporting earnings per share of -$0.14. This trend is a concern for investors.

Here is a summary of Corning's recent stock price movements:

Corning's stock price rose after an upgrade from Mizuho analysts, who said the recent pullback following last month's earnings report has created an "attractive entry point".

Corning's current share price is $49.53, which is a significant improvement from its 52 Week Low of $30.72.

The company's stock has shown impressive growth over the past year, with a 59% increase in value. This is reflected in its 1 Year Change of 59.00%.

Corning's beta of 1.03 suggests that its stock price is moderately volatile, meaning it can be affected by market fluctuations.

The 52 Week High of $54.53 indicates that Corning's stock has reached a peak in the past year.

The company's 1 Month Change of 3.66% and 3 Month Change of 1.02% suggest a steady but slow growth in the past few months.

Here's a summary of Corning's stock performance over the past 5 years:

Corning's stock has shown remarkable growth since its IPO, with a Change since IPO of 766.41%.

Corning's stock, GLW, has shown relatively stable price volatility in the past 3 months compared to the US market.

GLW's average weekly movement is 4.3%, which is lower than the market average of 6.5%. In fact, it's even lower than the electronic industry average movement of 6.7%.

Here's a comparison of GLW's volatility with the market and industry:

This stability is a positive sign for investors, as it suggests that GLW's price is not as prone to sudden fluctuations as some other stocks.

Corning's stock has been sticking to its Q3 profit view, with the company continuing to expect a profit of 50 cents to 54 cents a share.

This is good news for investors, as it suggests that the company is on track to meet its financial targets.

Corning's stock has been trading at 29.7% below its estimated fair value, which could make it an attractive investment opportunity for those looking to buy in.

The company's stock price has been on the rise, with a 1 Month Change of 3.66% and a 1 Year Change of 59.00%.

Here are the key stats for Corning's stock performance:

Corning's recent pullback has been seen as an attractive entry point by analysts, with Mizuho upgrading its shares to Outperform from Neutral.

The company's earnings have been falling on a year-over-year basis for 1 quarter in a row, but its EPS is expected to meet or exceed quarters going back to 2022.