Corning Inc (NYSE: GLW) has reported earnings for its second fiscal quarter (ending June 30) of $0.12 versus $0.33 for the same period a year ago. For the latest four quarters through June 30, E.P.S. were $0.51 versus $0.75 for the same period a year ago.
Recent Price Action
Corning Inc (NYSE: GLW) stock suffered a large decline of -6.9% on 7/30/24. The stock closed at $39.74. Moreover, exceptionally high trading volume at 290% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -10.3% during the last week.
Current PriceTarget Research Rating
GLW’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Corning has a current Value Trend Rating of C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Corning has a poor Appreciation Score of 22 but a good Power Rating of 83, leading to the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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