In the latest quarter, 10 analysts provided ratings for Corning GLW, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 4 | 5 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 2 | 0 | 0 |
| 2M Ago | 0 | 1 | 2 | 0 | 0 |
| 3M Ago | 0 | 1 | 1 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $39.0, a high estimate of $45.00, and a low estimate of $35.00. This upward trend is evident, with the current average reflecting a 7.05% increase from the previous average price target of $36.43.
Interpreting Analyst Ratings: A Closer Look
A clear picture of Corning's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Steve Fox | Fox Advisors | Announces | Overweight | $45.00 | - |
| Wamsi Mohan | B of A Securities | Raises | Buy | $42.00 | $38.00 |
| Meta Marshall | Morgan Stanley | Raises | Equal-Weight | $38.00 | $35.00 |
| Joshua Spector | UBS | Raises | Neutral | $38.00 | $35.00 |
| Samik Chatterjee | JP Morgan | Raises | Overweight | $43.00 | $37.00 |
| John Roberts | Mizuho | Announces | Neutral | $36.00 | - |
| Samik Chatterjee | JP Morgan | Raises | Neutral | $37.00 | $36.00 |
| Meta Marshall | Morgan Stanley | Maintains | Overweight | $35.00 | - |
| Samik Chatterjee | JP Morgan | Raises | Neutral | $36.00 | $34.00 |
| Mehdi Hosseini | Susquehanna | Maintains | Positive | $40.00 | $40.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Corning. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Corning compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Corning's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into Corning's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Corning analyst ratings.
Discovering Corning: A Closer Look
Corning is a leader in materials science, specializing in the production of glass, ceramics, and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.
Corning: Financial Performance Dissected
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Corning's revenue growth over a period of 3 months has faced challenges. As of 31 March, 2024, the company experienced a revenue decline of approximately -6.39%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 7.03%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 1.84%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Corning's ROA stands out, surpassing industry averages. With an impressive ROA of 0.74%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Corning's debt-to-equity ratio stands notably higher than the industry average, reaching 0.74. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
The Basics of Analyst Ratings
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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