Why Corning Incorporated (NYSE:GLW) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $21.540 on Corning Incorporated (NYSE:GLW) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.420 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Corning Incorporated (NYSE:GLW) stands at 12.658.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Corning Incorporated Common Sto, the PEG ratio for coming 3-5 years is 1.070.

Technical Analysis

The technical analysis highlights that Corning Incorporated Common Sto current is trading $1.690 points away or +7.939% from its 50-day moving average of $21.285. Further it is trading $2.990 or +14.959% away its 200-day moving average of $19.985.

The 52-week high of Corning Incorporated (NYSE:GLW) was $23.000 while lowest point recorded in 52-week was $15.420. It implies if stock price makes a movement of over $-0.025, it will record a new 52-week high. In the case of +48.995% drop, it will touch a new 52-week low.

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