Current Report: Corning (GLW)

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Corning Inc, with the ticker GLW, is a large-cap electronic components company operating in the technology sector. This is the first of five technology candidates competing for the forty-fifth slot in the Viital folio. It is my first ever report on Corning for my Viital portfolio though I have reported and selected it for previous portfolios in years past.

The company, founded in 1851, is headquartered in Corning, New York. It was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. 

Corning Inc 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.

Three key data points gauge any dividend equity or fund such as Corning Inc:

(1) Price (2) Dividends (3) Returns.

Those three basic keys best tell whether any company has made, is making, and will make money.

GLW Price

Corning’s price per share was $35.80 as of Friday's market close.  One year ago its price was $40.92. So, GLW share price fell $5.12 or about 12.5% in the past year.

If Corning stock trades in the range of $30.00 to $44.00 this next year, its recent $35.80 share price might rise by $4.20 to reach $40.00 by next year. My $4.20 upside estimate is $0.92 under the median of one-year price targets from 13 analysts tracking GLW for brokers.

GLW Dividends

Corning’s most recently declared quarterly dividend of $0.27 is payable September 29th, to shareholders on record as of August 30th. So there’s time to get in on this.

Since September 28, 2007, Corning has paid quarterly dividends increasing annually.  The current forward-looking annual dividend of $1.08 equates to an annual yield of 3.02% as of Friday's $35.80 share price.

GLW Returns

Adding the $1.08 Corning annual dividend to my estimated one-year price upside estimate of $4.20 shows a $5.28 potential gross gain, per share, to be reduced by any costs to trade GLW shares.

At yesterday's $35.80 closing price, a little over $1000 would buy 28 shares.

A $10 broker fee (if charged) would be paid half at purchase and half at sale and might cost us $0.36 per share.

Subtract that maybe $0.36 brokerage cost from my estimated $5.28 gross gain estimate per share results in a net gain of $4.92 X 28 shares = $137.76, for a 13.7% net gain including a 3.02% forward looking annual dividend yield.

Over the next year our $1K investment in GLW shares should generate $30.20 in cash dividends. Of course, a single share of GLW stock bought at yesterday's $35.80 price is $5.60 more than the dividend income from our $1000.00 investment.

So, by my dogcatcher ideal, this is not time to pick up Corning Inc shares based on their forward looking dividends for the year 2022. The forecast annual dividend from $1K invested is $5.60 less than yesterday’s single share price. Consider yourself alerted. It's a sign. Now’s not the time to buy GLW shares. Wait for the price to drop to $32.85

All of the estimates above are speculation based on the past history of Corning Inc. Only time and money invested in this stock will determine its market value.

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Disclaimer:  This article is for informational and educational purposes only and should not be construed to constitute investment advice. Nothing contained herein shall constitute a ...

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