Trade-Ideas LLC identified

Corning

(

GLW

) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Corning as such a stock due to the following factors:

  • GLW has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $297.0 million.
  • GLW traded 13,273 shares today in the pre-market hours as of 8:46 AM.
  • GLW is up 3.3% today from Friday's close.

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More details on GLW:

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The stock currently has a dividend yield of 2.7%. GLW has a PE ratio of 9. Currently there are 5 analysts that rate Corning a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Recommends

The average volume for Corning has been 11.6 million shares per day over the past 30 days. Corning has a market cap of $21.6 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.46 and a short float of 3.8% with 2.72 days to cover. Shares are down 23.2% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Corning as a

buy

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Electronic Equipment, Instruments & Components industry. The net income increased by 193.5% when compared to the same quarter one year prior, rising from $169.00 million to $496.00 million.
  • GLW's debt-to-equity ratio is very low at 0.19 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.47, which clearly demonstrates the ability to cover short-term cash needs.
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. Compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market, CORNING INC's return on equity exceeds that of both the industry average and the S&P 500.
  • The gross profit margin for CORNING INC is rather high; currently it is at 53.69%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 21.16% significantly outperformed against the industry average.
  • CORNING INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, CORNING INC increased its bottom line by earning $1.73 versus $1.34 in the prior year. For the next year, the market is expecting a contraction of 17.9% in earnings ($1.42 versus $1.73).

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