Throughout the last three months, 7 analysts have evaluated Corning GLW, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 1 | 0 | 0 |
| 2M Ago | 1 | 2 | 0 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $51.43, a high estimate of $55.00, and a low estimate of $47.00. This upward trend is apparent, with the current average reflecting a 13.21% increase from the previous average price target of $45.43.
Analyzing Analyst Ratings: A Detailed Breakdown
The standing of Corning among financial experts becomes clear 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 |
|---|---|---|---|---|---|
| Matthew Niknam | Deutsche Bank | Raises | Buy | $54.00 | $49.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $53.00 | $40.00 |
| 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 |
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: 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.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Corning's market position. Stay informed and make well-judged decisions with the assistance of 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: Delving into Financials
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
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: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 3.2%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Corning's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 0.95%, the company showcases efficient use of equity capital and strong financial health.
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: With a high debt-to-equity ratio of 0.77, Corning faces challenges in effectively managing its debt levels, indicating potential financial strain.
Analyst Ratings: What Are They?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a 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.
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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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