Corning Incorporated (GLW) Hits Fresh High: Is There Still Room to Run?

Core Insights - Corning's stock has increased by 20.2% over the past month and reached a 52-week high of $81.02, with a year-to-date gain of 70.5% compared to the Zacks Computer and Technology sector's 22.6% and the Zacks Communication - Components industry's 63.1% [1] Financial Performance - Corning has consistently exceeded earnings expectations, beating the Zacks Consensus Estimate in the last four quarters, with an EPS of $0.6 reported against a consensus of $0.57 in the latest earnings report [2] - For the current fiscal year, Corning is projected to achieve earnings of $2.47 per share on revenues of $16.08 billion, reflecting a 26.02% increase in EPS and an 11.14% increase in revenues. For the next fiscal year, expected earnings are $2.88 per share on $17.21 billion in revenues, indicating a year-over-year change of 16.52% and 7.05%, respectively [3] Valuation Metrics - Corning's stock trades at a valuation of 32.8X current fiscal year EPS estimates, which is above the peer industry average of 24.2X. On a trailing cash flow basis, it trades at 22.7X compared to the peer group's average of 14X, with a PEG ratio of 1.81, suggesting it is not among the top value stocks [7] Zacks Rank and Style Scores - Corning holds a Zacks Rank of 2 (Buy) due to favorable earnings estimate revisions, meeting the criteria for stocks recommended for investment. The company has a Value Score of D, a Growth Score of C, and a Momentum Score of A, resulting in a combined VGM Score of B [6][8]