Corning GLW underwent analysis by 17 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 3 | 10 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 2 | 1 | 4 | 0 | 0 |
| 2M Ago | 2 | 2 | 3 | 0 | 0 |
| 3M Ago | 0 | 0 | 2 | 0 | 0 |
Analysts have set 12-month price targets for Corning, revealing an average target of $42.59, a high estimate of $51.00, and a low estimate of $36.00. This upward trend is evident, with the current average reflecting a 12.29% increase from the previous average price target of $37.93.
Interpreting Analyst Ratings: A Closer Look
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 |
|---|---|---|---|---|---|
| Meta Marshall | Morgan Stanley | Maintains | Equal-Weight | $39.00 | $39.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $51.00 | $45.00 |
| Martin Yang | Oppenheimer | Raises | Outperform | $50.00 | $40.00 |
| Joshua Spector | UBS | Raises | Neutral | $44.00 | $38.00 |
| Matthew Niknam | Deutsche Bank | Raises | Hold | $46.00 | $39.00 |
| Jim Kelleher | Argus Research | Raises | Buy | $50.00 | $40.00 |
| Meta Marshall | Morgan Stanley | Raises | Equal-Weight | $39.00 | $38.00 |
| 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 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Corning. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Corning compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
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: Financial Performance Dissected
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
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. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Corning's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.03% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Corning's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.84% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.74%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 0.74, Corning faces challenges in effectively managing its debt levels, indicating potential financial strain.
Understanding the Relevance of Analyst Ratings
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
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.
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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