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Corning Incorporated (GLW)

NYSE - NYSE Delayed Price. Currency in USD
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38.61+0.38 (+0.99%)
At close: 4:02PM EDT
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Commodity Channel Index

Commodity Channel Index

Previous Close38.23
Open38.40
Bid0.00 x 1400
Ask0.00 x 1300
Day's Range38.17 - 38.90
52 Week Range31.28 - 46.82
Volume6,692,715
Avg. Volume4,045,262
Market Cap32.974B
Beta (5Y Monthly)1.16
PE Ratio (TTM)36.39
EPS (TTM)1.06
Earnings DateOct 26, 2021
Forward Dividend & Yield0.96 (2.51%)
Ex-Dividend DateNov 10, 2021
1y Target Est47.85
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-11% Est. Return

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  • Corning Incorporated
    Daily Spotlight: Stock Valuations Still LoftyStock prices (as expressed by the S&P 500) are near all-time highs and (on earnings that are still recovering) are well above fair value, which our model pegs at closer to 3,800. Our stock market valuation model takes into account factors such as stock prices, five-year normalized earnings (three historical years, two forward-looking), GDP, inflation, and T-bond and T-bill yields. We note that stocks rarely trade right at fair value. Since 1960, on average, the index has traded at a tight 2% above fair value, but the standard deviation to the mean is 16%. As such, we normally expect the S&P 500 to trade between 14% undervalued and 18% overvalued. At current prices, the stock market is more than 40% above fair value, implying that investors may be overly optimistic about equities in the coming months. Though we are still bullish on the economy, earnings, and continued low interest rates, we'd feel better about the longer-term outlook for stocks if valuations were not so stretched. Several factors could improve valuations: a pullback in stock prices (which occurred in September); lower bond yields; or better earnings, which we are starting to see as 3Q EPS reports are released.
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    6 days agoArgus Research
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