Corning Stock Hits New 52-Week High (GLW)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Corning (NYSE: GLW) hit a new 52-week high Friday as it is currently trading at $14.69, above its previous 52-week high of $14.55 with 954,628 shares traded as of 9:46 a.m. ET. Average volume has been 13.9 million shares over the past 30 days.

Corning has a market cap of $21.14 billion and is part of the technology sector and electronics industry. Shares are up 13.9% year to date as of the close of trading on Thursday.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. The company has a P/E ratio of 12.2, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Corning Ratings Report.

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