Corning GLW underwent analysis by 13 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 6 | 2 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 2 | 0 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 3 | 3 | 2 | 0 | 0 |
Analysts have set 12-month price targets for Corning, revealing an average target of $47.92, a high estimate of $55.00, and a low estimate of $39.00. Observing a 7.59% increase, the current average has risen from the previous average price target of $44.54.
Diving into Analyst Ratings: An In-Depth Exploration
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 | Buy | $49.00 | $46.00 |
| Martin Yang | Oppenheimer | Raises | Outperform | $51.00 | $47.00 |
| Wamsi Mohan | B of A Securities | Raises | Buy | $51.00 | $46.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $55.00 | $46.00 |
| John Roberts | Mizuho | Raises | Outperform | $47.00 | $44.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $40.00 | $36.00 |
| Martin Yang | Oppenheimer | Lowers | Outperform | $47.00 | $50.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $46.00 | $40.00 |
| Wamsi Mohan | B of A Securities | Lowers | Buy | $46.00 | $47.00 |
| Matthew Niknam | Deutsche Bank | Maintains | Buy | $46.00 | $46.00 |
| Samik Chatterjee | JP Morgan | Raises | Overweight | $55.00 | $47.00 |
| Meta Marshall | Morgan Stanley | Maintains | Equal-Weight | $39.00 | $39.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $51.00 | $45.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Corning. This information offers 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: Gaining insights, analysts provide estimates for the future value of Corning's stock. This comparison reveals trends in analysts' expectations over time.
To gain a panoramic view of Corning's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Corning analyst ratings.
Delving into Corning's Background
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 Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Corning displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 0.25%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Corning's net margin excels beyond industry benchmarks, reaching 3.2%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Corning's ROE excels beyond industry benchmarks, reaching 0.95%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Corning's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.38%, the company showcases efficient use of assets and strong financial health.
Debt Management: Corning's debt-to-equity ratio surpasses industry norms, standing at 0.77. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
The Core of Analyst Ratings: What Every Investor Should Know
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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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