For its third fiscal quarter (ending September 30), Corning Inc (NYSE: GLW) has reported a -174% decline in E.P.S. from $0.19 a year ago to $-0.14 in the current quarter. For the latest four quarters through September 30, E.P.S. were $0.18 versus $0.69 for the same period a year ago — a decline of -74%.
Recent Price Action
Corning Inc (NYSE: GLW) stock enjoyed a large increase of 4.7% on 10/29/24. The stock closed at $49.03. Moreover, trading volume in this advance was exceptionally high at 304% of normal. The stock has risen 4.3% during the last week and has been exceptionally strong relative to the market over the last nine months.
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 (High Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Corning has a slightly negative Appreciation Score of 34 but a very high Power Rating of 90, triggering the High Neutral Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment