Corning Stock Hits New 52-Week Low (GLW)

NEW YORK (TheStreet) -- Corning (NYSE:GLW) hit a new 52-week low Wednesday as it is currently trading at $11.48, below its previous 52-week low of $11.51 with eight million shares traded as of 10:30 a.m. ET. Average volume has been 12.7 million shares over the past 30 days.

Corning has a market cap of $18.62 billion and is part of the technology sector and electronics industry. Shares are down 7% year to date as of the close of trading on Tuesday.

Corning Incorporated produces specialty glasses, ceramics, and related materials worldwide. The company operates in five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. The company has a P/E ratio of 7.6, below the average electronics industry P/E ratio of 7.7 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Corning as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full Corning Ratings Report.

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