Updated Report: Corning (GLW)

Corning Incorporated, ticker GLW, a large-cap electronic components company in the technology business sector, is the first of five technology candidates vying for the first slot in my Viking folio. This is not my first report on Corning; I have discussed Corning previously and selected it for at least one of my past portfolios. My outlook has changed significantly along with the stock price since my Aug. 7 report.

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.

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.

Three key data points gauge Corning Incorporated :

(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 $29.02 at Friday’s market close.  Corning’s share price fell by $7.96 or about 21.5% in the past year.

If Corning’s stock trades in the range of $24.00 to $44.00 this next year, its recent $29.02 share price might reach $35.00 by next year. That upside increase of $5.98 is $4.30 under the valuation projected by 13 analysts tracking Corning for brokerages.

GLW Dividends

Corning’s most recently declared quarterly dividend of $0.27 per share makes an annual dividend of $1.08 and casts a yield of 3.72%.

GLW Returns

Adding the $1.08 Corning dividend to my one-year price upside estimate of $5.98 shows a $7.06 potential gross gain per share.

At Friday’s $29.02 closing price, a little under $1000 would buy 34 shares.

A $10 broker fee (if charged) paid half at purchase and half at sale and might cost us $0.29 per share.

Subtract that maybe $0.29 brokerage cost from my estimated $7.06 gross gain per share results in a net gain of $6.77 X 34 shares = $230.18 for a 23% net gain including a 3.72% annual yield.

In a year our $1K investment in shares of Corning Incorporated could generate $37.20 in cash dividends. Of course, a single share of GLW stock at Friday's $29.02 price is over $8 less than the dividend income from our $1000.00 investment.

So, by my dogcatcher ideal, this is a good time to buy GLW shares based on their dividends for the year 2022. The dividend from $1K invested is $8.18 more than yesterday’s single share price. Consider yourself alerted. Now is the time.

All of the estimates above are speculation based on the past history of Corning Incorporated. 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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