Analysts' ratings for Corning GLW over the last quarter vary from bullish to bearish, as provided by 12 analysts.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 3 | 7 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 2 | 1 | 2 | 0 | 0 |
| 2M Ago | 0 | 1 | 2 | 0 | 0 |
| 3M Ago | 0 | 1 | 2 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $39.67, a high estimate of $45.00, and a low estimate of $35.00. Witnessing a positive shift, the current average has risen by 10.19% from the previous average price target of $36.00.
Exploring Analyst Ratings: An In-Depth Overview
The analysis of recent analyst actions sheds light on the perception of Corning by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matthew Niknam | Deutsche Bank | Raises | Hold | $39.00 | $35.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $45.00 | $38.00 |
| John Roberts | Mizuho | Raises | Neutral | $42.00 | $36.00 |
| 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 |
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: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Corning compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Corning's stock. This comparison reveals trends in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Corning's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Corning analyst ratings.
About Corning
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: A Financial Overview
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Negative Revenue Trend: Examining Corning's financials over 3 months reveals challenges. As of 31 March, 2024, the company experienced a decline of approximately -6.39% in revenue growth, reflecting a decrease in 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: Corning's net margin excels beyond industry benchmarks, reaching 7.03%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Corning's ROE stands out, surpassing industry averages. With an impressive ROE of 1.84%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Corning's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.74%, the company showcases efficient use of assets and strong financial health.
Debt Management: Corning's debt-to-equity ratio surpasses industry norms, standing at 0.74. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Understanding the Relevance of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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