Corning Integrated (NYSE:GLW) Sees Vital Lower in Brief Curiosity
Corning Integrated (NYSE:GLW – Get Score) noticed a major drop in brief curiosity in November. As of November fifteenth, there was brief curiosity totalling 10,450,000 shares, a drop of 16.5% from the October thirty first complete of 12,510,000 shares. Presently, 1.4% of the corporate’s inventory are brief offered. Based mostly on a median each day quantity of 5,050,000 shares, the days-to-cover ratio is at the moment 2.1 days.
Hedge Funds Weigh In On Corning
Quite a lot of hedge funds and different institutional traders have not too long ago purchased and offered shares of GLW. Worth T Rowe Associates Inc. MD raised its stake in shares of Corning by 37.4% in the course of the 2nd quarter. Worth T Rowe Associates Inc. MD now owns 20,008,558 shares of the electronics maker’s inventory value $630,470,000 after shopping for a further 5,451,525 shares over the past quarter. BlackRock Inc. raised its stake in shares of Corning by 3.3% in the course of the third quarter. BlackRock Inc. now owns 55,945,292 shares of the electronics maker’s inventory value $1,623,533,000 after shopping for a further 1,796,774 shares over the past quarter. California Public Staff Retirement System raised its stake in shares of Corning by 109.6% in the course of the 2nd quarter. California Public Staff Retirement System now owns 3,151,038 shares of the electronics maker’s inventory value $99,289,000 after shopping for a further 1,647,814 shares over the past quarter. Prudential Monetary Inc. raised its stake in shares of Corning by 197.7% in the course of the 1st quarter. Prudential Monetary Inc. now owns 2,033,754 shares of the electronics maker’s inventory value $75,066,000 after shopping for a further 1,350,499 shares over the past quarter. Lastly, Vanguard Group Inc. raised its stake in shares of Corning by 1.1% in the course of the third quarter. Vanguard Group Inc. now owns 95,986,278 shares of the electronics maker’s inventory value $2,785,521,000 after shopping for a further 1,002,544 shares over the past quarter. 69.00% of the inventory is at the moment owned by hedge funds and different institutional traders.
Corning Inventory Efficiency
NYSE:GLW traded down $0.24 throughout noon buying and selling on Friday, reaching $34.00. The inventory had a buying and selling quantity of three,117,986 shares, in comparison with its common quantity of three,875,567. The agency has a fifty day easy shifting common of $32.14 and a two-hundred day easy shifting common of $33.34. Corning has a 12-month low of $28.98 and a 12-month excessive of $43.47. The corporate has a fast ratio of 0.94, a present ratio of 1.51 and a debt-to-equity ratio of 0.57. The inventory has a market cap of $28.76 billion, a P/E ratio of 15.89, a P/E/G ratio of two.53 and a beta of 1.05.
Corning (NYSE:GLW – Get Score) final posted its quarterly earnings knowledge on Tuesday, October twenty fifth. The electronics maker reported $0.51 earnings per share for the quarter, assembly analysts’ consensus estimates of $0.51. Corning had a web margin of 12.72% and a return on fairness of 15.25%. The agency had income of $3.67 billion for the quarter, in comparison with analyst estimates of $3.67 billion. Throughout the identical interval final 12 months, the agency posted $0.56 EPS. Corning’s quarterly income was up .7% on a year-over-year foundation. On common, equities analysts anticipate that Corning will submit 2.07 EPS for the present 12 months.
Corning Declares Dividend
The corporate additionally not too long ago disclosed a quarterly dividend, which shall be paid on Friday, December sixteenth. Traders of file on Friday, November 18th shall be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November seventeenth. This represents a $1.08 dividend on an annualized foundation and a yield of three.18%. Corning’s dividend payout ratio (DPR) is 50.47%.
Wall Avenue Analysts Forecast Progress
GLW has been the subject of a lot of analysis analyst studies. StockNews.com initiated protection on shares of Corning in a report on Wednesday, October twelfth. They set a “maintain” score on the inventory. Citigroup reduce their value goal on shares of Corning from $37.00 to $36.00 and set a “impartial” score on the inventory in a report on Friday, September ninth. Deutsche Financial institution Aktiengesellschaft reduce their value goal on shares of Corning from $37.00 to $35.00 in a report on Wednesday, October twenty sixth. Morgan Stanley reduce their value goal on shares of Corning from $40.00 to $36.00 and set an “equal weight” score on the inventory in a report on Tuesday, October eleventh. Lastly, Fox Advisors reduce shares of Corning from an “chubby” score to an “equal weight” score in a report on Wednesday, October twenty sixth. Seven analysis analysts have rated the inventory with a maintain score and 5 have assigned a purchase score to the corporate’s inventory. Based on knowledge from MarketBeat, the corporate at the moment has a median score of “Maintain” and a consensus goal value of $39.27.
About Corning
Corning Integrated engages in show applied sciences, optical communications, environmental applied sciences, specialty supplies, and life sciences companies worldwide. The corporate’s Show Applied sciences phase provides glass substrates for liquid crystal shows and natural light-emitting diodes utilized in televisions, pocket book computer systems, desktop screens, tablets, and handheld units.
Featured Tales
This immediate information alert was generated by narrative science know-how and monetary knowledge from MarketBeat with a view to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial group previous to publication. Please ship any questions or feedback about this story to [email protected].
Earlier than you contemplate Corning, you will wish to hear this.
MarketBeat retains monitor of Wall Avenue’s top-rated and finest performing analysis analysts and the shares they suggest to their purchasers each day. MarketBeat has recognized the 5 shares that high analysts are quietly whispering to their purchasers to purchase now earlier than the broader market catches on… and Corning wasn’t on the checklist.
Whereas Corning at the moment has a “Maintain” score amongst analysts, top-rated analysts imagine these 5 shares are higher buys.
Comments (0)