Technology - Hardware, Equipment & Parts - NYSE - US
$ 46.49
-0.599 %
$ 39.8 B
Market Cap
244.68
P/E
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products.[ Read More ]
The intrinsic value of one GLW stock under the base case scenario is HIDDEN Compared to the current market price of 46.5 USD, Corning Incorporated is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart GLW
FINANCIALS
12.6 B
REVENUE
890 M
OPERATING INCOME
648 M
NET INCOME
2 B
OPERATING CASH FLOW
-1 B
INVESTING CASH FLOW
-883 M
FINANCING CASH FLOW
3.39 B
REVENUE
135 M
OPERATING INCOME
-117 M
NET INCOME
699 M
OPERATING CASH FLOW
-199 M
INVESTING CASH FLOW
-332 M
FINANCING CASH FLOW
Balance Sheet Decomposition
Corning Incorporated
| Current Assets | 7.21 B |
| Cash & Short-Term Investments | 1.78 B |
| Receivables | 1.57 B |
| Other Current Assets | 3.86 B |
| Non-Current Assets | 21.3 B |
| Long-Term Investments | 414 M |
| PP&E | 15.5 B |
| Other Non-Current Assets | 5.36 B |
| Current Liabilities | 4.32 B |
| Accounts Payable | 1.47 B |
| Short-Term Debt | 432 M |
| Other Current Liabilities | 2.42 B |
| Non-Current Liabilities | 12.3 B |
| Long-Term Debt | 8.05 B |
| Other Non-Current Liabilities | 4.26 B |
EFFICIENCY
Earnings Waterfall
Corning Incorporated
| Revenue | 12.6 B |
| Cost Of Revenue | 8.66 B |
| Gross Profit | 3.93 B |
| Operating Expenses | 3.04 B |
| Operating Income | 890 M |
| Other Expenses | 242 M |
| Net Income | 648 M |
RATIOS
31.23%
GROSS MARGIN
7.07%
OPERATING MARGIN
4.62%
NET MARGIN
5.03%
ROE
2.04%
ROA
3.70%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Corning Incorporated
| Net Income | 648 M |
| Depreciation & Amortization | 1.37 B |
| Capital Expenditures | -1.39 B |
| Stock-Based Compensation | 218 M |
| Change in Working Capital | -158 M |
| Others | -124 M |
| Free Cash Flow | 615 M |
Wall Street Analysts Price Targets
Corning Incorporated
Wall Street analysts predict an average 1-year price target for GLW of $47.8 , with forecasts ranging from a low of $36 to a high of $58 .
GLW Lowest Price Target
Wall Street Target
36 USD
-22.56%
GLW Average Price Target
Wall Street Target
47.8 USD
2.71%
GLW Highest Price Target
Wall Street Target
58 USD
24.76%
4. DIVIDEND ANALYSIS
0.63%
DIVIDEND YIELD
0.28 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Corning Incorporated
Sold
0-3 MONTHS
13.3 M USD 10
3-6 MONTHS
4.79 M USD 6
6-9 MONTHS
11.6 M USD 10
9-12 MONTHS
866 K USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
4 days ago
Nov 13, 2024
|
Sell 250 K USD
|
Zhang John Z
SVP&GM Glass Innov. & Asia |
- 5175
|
48.3601 USD |
|
5 days ago
Nov 12, 2024
|
Sell 493 K USD
|
Curran Martin J
other: Retired Executive VP |
- 10200
|
48.3317 USD |
|
2 weeks ago
Nov 01, 2024
|
Sell 774 K USD
|
STEVERSON LEWIS A
EVP and CLAO |
- 16079
|
48.1523 USD |
|
2 weeks ago
Oct 31, 2024
|
Sell 4.84 M USD
|
WEEKS WENDELL P
Chairman and CEO |
- 100000
|
48.3615 USD |
|
2 weeks ago
Oct 30, 2024
|
Sell 1.06 M USD
|
Schlesinger Edward A
Exec. Vice President and CFO |
- 21948
|
48.0717 USD |
|
2 weeks ago
Oct 30, 2024
|
Sell 3.63 M USD
|
Musser Eric S
President and COO |
- 74640
|
48.6143 USD |
|
2 weeks ago
Oct 30, 2024
|
Sell 444 K USD
|
Fang Li
SVP, Corning Intl & NBD, Solar |
- 9166
|
48.4505 USD |
|
2 weeks ago
Oct 30, 2024
|
Sell 1.17 M USD
|
Becker Stefan
SVP, Finance & Controller |
- 24077
|
48.625 USD |
|
2 months ago
Sep 13, 2024
|
Sell 212 K USD
|
Bayne John P JR
other: Retired Senior Vice President |
- 5000
|
42.5 USD |
|
2 months ago
Aug 27, 2024
|
Sell 327 K USD
|
Bayne John P JR
other: Retired Senior Vice President |
- 7774
|
42.03 USD |
|
2 months ago
Aug 20, 2024
|
Sell 100 K USD
|
Evenson Jeffrey W
Exec. VP & Chief Strategy Off |
- 2483
|
40.4605 USD |
|
3 months ago
Aug 13, 2024
|
Sell 513 K USD
|
Zhang John Z
SVP&GM Display, MCE & Asia |
- 12918
|
39.728 USD |
|
3 months ago
Aug 13, 2024
|
Sell 96.3 K USD
|
Curran Martin J
other: Retired Executive VP |
- 2431
|
39.6005 USD |
|
3 months ago
Aug 14, 2024
|
Sell 711 K USD
|
Becker Stefan
SVP, Finance & Controller |
- 17983
|
39.5098 USD |
|
3 months ago
Aug 15, 2024
|
Sell 400 K USD
|
Bayne John P JR
other: Retired Senior Vice President |
- 10000
|
40 USD |
|
3 months ago
Aug 13, 2024
|
Sell 276 K USD
|
Bayne John P JR
other: Retired Senior Vice President |
- 6890
|
40 USD |
|
3 months ago
Aug 12, 2024
|
Sell 84.9 K USD
|
Bell Michael Alan
Senior VP & GM, Optical Comm. |
- 2175
|
39.0245 USD |
|
3 months ago
Jul 31, 2024
|
Sell 2.23 M USD
|
Evenson Jeffrey W
Exec. VP & Chief Strategy Off |
- 55280
|
40.2858 USD |
|
5 months ago
Jun 05, 2024
|
Sell 480 K USD
|
Evenson Jeffrey W
Exec. VP & Chief Strategy Off |
- 12830
|
37.3861 USD |
|
6 months ago
May 14, 2024
|
Sell 705 K USD
|
Bell Michael Alan
Senior VP & GM, Optical Comm. |
- 20152
|
35 USD |
|
6 months ago
May 09, 2024
|
Sell 792 K USD
|
Seetharam Soumya
Senior Vice President & CDIO |
- 23291
|
34.0136 USD |
|
6 months ago
May 09, 2024
|
Sell 449 K USD
|
Bayne John P JR
SVP &GM, Mobile Consumer Elec. |
- 13198
|
34 USD |
|
6 months ago
May 06, 2024
|
Sell 3.43 M USD
|
Evenson Jeffrey W
Exec. VP & Chief Strategy Off |
- 103437
|
33.1945 USD |
|
6 months ago
May 03, 2024
|
Sell 553 K USD
|
Curran Martin J
Exec. VP & Innovation Officer |
- 16416
|
33.704 USD |
|
6 months ago
May 02, 2024
|
Sell 419 K USD
|
Zhang John Z
SVP&GM Display, MCE & Asia |
- 12546
|
33.4212 USD |
|
6 months ago
May 01, 2024
|
Sell 991 K USD
|
STEVERSON LEWIS A
EVP and CLAO |
- 29978
|
33.0457 USD |
|
7 months ago
Mar 21, 2024
|
Sell 2.58 M USD
|
McRae Lawrence D
other: Retired Vice Chairman |
- 77464
|
33.2417 USD |
|
8 months ago
Feb 29, 2024
|
Sell 132 K USD
|
Bayne John P JR
SVP &GM, Mobile Consumer Elec. |
- 4086
|
32.2106 USD |
|
8 months ago
Feb 21, 2024
|
Sell 274 K USD
|
Fang Li
SVP, Corning Intl & NBD, Solar |
- 8480
|
32.336 USD |
|
9 months ago
Feb 16, 2024
|
Sell 204 K USD
|
Curran Martin J
Exec. VP & Innovation Officer |
- 6353
|
32.146 USD |
|
9 months ago
Feb 16, 2024
|
Sell 902 K USD
|
Amin Jaymin
SVP and Chief Tech. Officer |
- 28231
|
31.9551 USD |
|
9 months ago
Feb 15, 2024
|
Sell 212 K USD
|
Zhang John Z
SVP&GM Display & Corning Asia |
- 6607
|
32.021 USD |
|
10 months ago
Dec 21, 2023
|
Sell 549 K USD
|
McRae Lawrence D
Vice Chairman & Corp. Dev. Off |
- 18200
|
30.1538 USD |
|
11 months ago
Nov 20, 2023
|
Sell 318 K USD
|
McRae Lawrence D
Vice Chairman & Corp. Dev. Off |
- 11272
|
28.1707 USD |
|
1 year ago
Jul 26, 2023
|
Sell 3.38 M USD
|
WEEKS WENDELL P
Chairman and CEO |
- 100000
|
33.78 USD |
|
1 year ago
Jul 26, 2023
|
Sell 572 K USD
|
STEVERSON LEWIS A
EVP and CLAO |
- 16710
|
34.2504 USD |
7. News
Lumen Technologies (LUMN) Price Prediction and Forecast 2025-2030
After struggling for years, shares of Lumen Technologies (NYSE: LUMN) skyrocketed in 2024, more than doubling through the first three quarters of the year. But as the company continues operating with a negative price-to-earnings (P/E) ratio, there are lingering concerns about the tech company’s future prospects. Founded in 1968, Lumen Technologies has been around a long time, so it was a surprise to some that stock was recently at risk of being delisted from the New York Stock Exchange when in 2023, its price per share briefly dipped under $1.00 on Nov. 1, 2023. Those struggles continued into 2024, but by mid-summer, the stock surged when demand for its high-speed fiber-network solutions began to grow. The company recently secured deals with Microsoft Corporation (NASDAQ: MSFT) and other leading tech companies, like Corning Inc. (NYSE: GLW), that are requiring increased connectivity between their data centers because of the explosive growth of artificial intelligence (AI). But after posting positive earnings to end FY 2022 and and repeat that success in the first two quarters of 2023 — including a sizable beat on earnings per share (EPS) of 43 cents to analysts’ expectations of 23 cents in Q4 of 2022 — Lumen has gone on to post negative EPS in four of the following five quarters as the company’s revenues have fallen steadily over the same period. So 24/7 Wall Street performed analysis to determine if the company is fundamentally flawed, or if AI demand and strategic partnerships will be enough to see its stock continue on its bull run. Key Points in This Article: Lumen Technologies’ net income losses were enormous last year, but on a trailing 12-month basis, there is a different story emerging that could suggest a turnaround of the company’s income statement. The company’s P/E ratio has been in negative territory six out of the past seven years, but the shift towards auxiliary AI services may right the ship. If you’re looking for a mega trend with massive potential, make sure to grab a complimentary copy of our “The Next NVIDIA” report. This report breaks down AI stocks with 10x potential and will give you a huge leg up in profiting from this massive sea change. Lumen Technologies’ Recent Stock Success From July 1, 2024, to Sept. 30, 2024, shares of LUMN went on a tear. The stock, which was trading at just $1.11 at the start of the third quarter of 2024, surged 540% by the end of Q3. That was quite the reversal given how the stock has slid 86.49% since hitting its all-time high of $49.45 on June 1, 2007. But market drivers are far different today than they were then, and with the emphasis on AI development, Lumen Technologies’ stock is on a bounce back after falling -11.69% over the past five years: Year Share Price Revenue* Net Income* 2014 $39.70 $18.031 $0.851 2015 $25.87 $17.900 $0.795 2016 $24.12 $17.470 $0.744 2017 $16.99 $17.656 $0.356 2018 $14.90 $23.433 $0.964 2019 $13.42 $22.401 $5.157 2020 $9.75 $20.712 $1.351 2021 $12.55 $19.687 $2.019 2022 $5.22 $17.478 $1.713 2023 $1.83 $14.557 $7.334 *Revenue and net income in $billions Over the course of the last decade, Lumen’s revenue decreased by more than 19% while net income gained by over 761.81%. As the company battled through its dated infrastructure and a significant debt load — shares fell significantly from $39.70 in 2014 to $1.83 in 2023. However, Lumen has been able to better balance its books, with total assets and total liabilities nearly aligned in 2023 to the tune of $34.02 billion and $33.57 billion, respectively. As the 56-year-old tech company looks forward to the second half of the decade, 24/7 Wall Street has identified three key drivers that are likely to positively impact Lumen Technologies’ growth metrics and stock performance through 2030. Key Drivers of Lumen Technologies’ Stock Performance 1. Strategic Partnerships With Tech Giants: The aforementioned strategic partnerships with Microsoft, the second-largest publicly traded company by market cap at $3.096 trillion, and Corning with its $36.16 billion market cap, should position Lumen for increased revenues and earnings for the foreseeable future. The partnership, announced in early August 2024, will result in Lumen more than doubling its total intercity network miles in order to unlock the next phases and capabilities of AI for cloud data centers (like Microsoft’s), enterprises and public agencies. According to the company’s press release, Lumen expects the deal with Microsoft to improve its cash flow by more than $20 million over the next 12 months. 2. Debt Restructuring: In March 2024, the company announced it had successfully extended its debt maturities, closing an approximately $1 billion revolving credit line maturing in June 2028 and completing the private placement of $1.325 billion due in November 2029. These efforts should free up funds and allow the company to address capital expenditures that will enable it to address the demands of the previously discussed strategic partnerships with Microsoft and Corning. 3. Insider Activity: While insider trading is never an absolute indication of growth, following the money can suggest what company executives’ sentiment is. And over the past 12 months, Lumen Technologies’ insiders have been doing far more buying than they have been selling. In fact, inside buyers have purchased a total of 12,924,936 million shares versus insider sellers offloading just 2,913,990. Put differently, the leadership at Lumen has out out-purchased sellers by more than 343% over the past year. Lumen Technologies (LUMN) Price Prediction in 2025 According to analysts, the current consensus median one-year price target for Lumen Technologies is $4.00, which represents more than 60.51% downside potential over the next 12 months given the current price per share of $10.13. Of 12 analysts covering LUMN, nine rate the stock as a ‘Hold,’ with the consensus rating being 3.15 on a scale from 1 (‘Strong Buy’) to 5 (‘Strong Sell’). By the end of 2025, 24/7 Wall Street‘s forecast for shares of LUMN is higher at $6.30, which only represents a downside potential of -37.80%, based on an annualized EPS of -46 cents. Lumen Technologies (LUMN) Stock Forecast Through 2030 Year Revenue* EPS 2025 $12.407 -$0.46 cents 2026 $12.229 -$0.26 cents 2027 $12.369 $0.05 cents 2028 $12.473 $0.39 cents 2029 $12.862 $0.38 cents 2030 $13.070 $0.69 cents *Revenue in $billions How Lumen Technologies’ Next Five Years Could Play Out By the end of 2025, 24/7 Wall Street‘s forecast for shares of LUMN is higher at $6.30, which only represents a downside potential of -37.80%, based on an annualized EPS of -46 cents. However, beginning in 2027 and continuing through 2030, we expect LUMN to post positive EPS growing from 5 cents to 59 cents based on revenue growth from $12.369 billion in 2027 to $13.070 billion in 2030. Lumen Technologies’ Price Target for 2030 By the conclusion of 2030, 24/7 Wall Street estimates that Lumen Technologies stock will be trading for $7.40 per share. Year Price Target 2025 $6.30 2026 $6.20 2027 $6.50 2028 $6.70 2029 $7.10 2030 $7.40 The #1 Thing to Do Before You Claim Social Security (Sponsor) Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation. A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes. Have questions about retirement or personal finance? Email us at Retire@247wallst.com! By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on 247wallst.com. By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties. The post Lumen Technologies (LUMN) Price Prediction and Forecast 2025-2030 appeared first on 24/7 Wall St..
https://247wallst.com
- 4 days ago
Corning, maker of toughened Gorilla Glass for phones, faces EU antitrust probe
On Wednesday, the European Union opened an investigation of U.S. manufacturer Corning over possible anti-competitive practices. Corning may not be a name that's super familiar to the average tech consumer, but you are almost certainly within touching distance of its products as its a leading supplier of speciality toughened glass for mobile devices, including Apple's iPhone.
techcrunch.com
- 1 week ago
Here's Why Corning (GLW) is a Strong Value Stock
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
zacks.com
- 1 week ago
GLW or ANET: Which Is the Better Value Stock Right Now?
Investors looking for stocks in the Communication - Components sector might want to consider either Corning (GLW) or Arista Networks (ANET). But which of these two stocks is more attractive to value investors?
zacks.com
- 2 weeks ago
Corning's Comeback: From Forgotten Stock To AI Darling
Corning Incorporated's price has rallied over the past year, since my last bullish take on the stock. GLW recently reported robust Q3 results, and is seeing strong momentum around AI and data center-fueled demand from leading telcos. Corning is also supported by a respectable dividend yield, a strong balance sheet, and it fits the profile of growth at a reasonable price.
seekingalpha.com
- 2 weeks ago
Corning Q3: The Period Of Growth Is Finally Here
Corning reported strong Q3 results, beating on top and bottom lines. 8% revenue growth, 20% income expansion in Q3 and a projected sales growth of 15% and income increase of 40% in Q4 mean Corning enters a period of substantial growth. GLW remains a solid long-term investment.
seekingalpha.com
- 2 weeks ago
Corning (GLW) is a Top-Ranked Momentum Stock: Should You Buy?
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
zacks.com
- 2 weeks ago
Corning Q3 2024 Earnings Review: EPS And Revenue Beat, Guidance Increased
Corning's strong Q3 performance and bullish outlook suggest GLW stock may trade higher, attracting long-term investors. Corning's Optical Communications unit benefits from new optical-connectivity products for generative AI, with potential growth from agreements with AT&T and Lumen Technologies. Corning expects operating margins to top 20% by 2026, driven by strong gross margins, cash flow, and technical capabilities.
seekingalpha.com
- 2 weeks ago
Why Corning Stock Is Surging Today
Corning's recently published third-quarter results arrived with plenty for investors to be excited about.
fool.com
- 2 weeks ago
Corning Q3 Earnings Beat on Solid Growth in Optical Communications
GLW reports top-line growth year over year in the third quarter, owing to solid demand in the Enterprise end market.
zacks.com
- 2 weeks ago
Corning Incorporated (GLW) Q3 2024 Earnings Call Transcript
Corning Incorporated (NYSE:GLW ) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET Company Participants Ann Nicholson - Vice President, Investor Relations Wendell Weeks - Chairman and Chief Executive Officer Edward Schlesinger - Executive Vice President and Chief Financial Officer Conference Call Participants Samik Chatterjee - JPMorgan Matthew Niknam - Deutsche Bank Steven Fox - Fox Advisors LLC Wamsi Mohan - Bank of America John Roberts - Mizuho Asiya Merchant - Citi Meta Marshall - Morgan Stanley Martin Yang - Oppenheimer James Cannon - UBS George Notter - Jefferies LLC Tim Long - Barclays Operator Good day and thank you for standing by. Welcome to the Corning Incorporated Quarter Three 2024 Earnings Conference Call.
seekingalpha.com
- 2 weeks ago
Corning (GLW) Reports Q3 Earnings: What Key Metrics Have to Say
Although the revenue and EPS for Corning (GLW) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
zacks.com
- 2 weeks ago
8. Profile Summary
Corning Incorporated GLW
COUNTRY
US
INDUSTRY
Hardware, Equipment & Parts
MARKET CAP
$ 39.8 B
Dividend Yield
0.63%
Description
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.
Contact
One Riverfront Plaza, Corning, NY, 14831
https://www.corning.com
IPO Date
Dec. 31, 1981
Employees
49800
Officers
Kevin G. Corliss
Vice President of Global Employee Relations & Chief Compliance Officer
Ms. Ann H. S. Nicholson
Vice President of Investor Relations
Ms. Soumya Seetharam
Senior Vice President and Chief Digital & Information Officer
Mr. John P. MacMahon
Senior Vice President of Global Compensation & Benefits
Dr. Jaymin Amin
Senior Vice President & Chief Technology Officer
Mr. Martin J. Curran
Executive Vice President & Innovation Officer
Ms. Jordana D. Kammerud
Senior Vice President & Chief Human Resources Officer
Mr. Wendell P. Weeks
Chairman & Chief Executive Officer
Mr. Edward A. Schlesinger
Executive Vice President & Chief Financial Officer
Mr. Eric S. Musser
President & Chief Operating Officer