Unusual Social Activity Today Around Corning (GLW)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Corning ( GLW) as an unusual social activity candidate. In addition to specific proprietary factors, Trade-Ideas identified Corning as such a stock due to the following factors:

  • GLW has more that 20x the normal benchmarked social activity for this time of the day compared to its average of 6.97 mentions/day.
  • GLW has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $215.5 million.

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press? Bad press? It ultimately doesn't matter if it's good or bad if you know how to trade around the sentiment. Certain hedge funds use such data for their proprietary algorithms and it is not uncommon to see shared social sentiment play itself out in a stock's price trend.

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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 2.1%. GLW has a PE ratio of 14.4. Currently there are 6 analysts that rate Corning a buy, 1 analyst rates it a sell, and 8 rate it a hold.

The average volume for Corning has been 12.7 million shares per day over the past 30 days. Corning has a market cap of $29.5 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.66 and a short float of 4.2% with 5.54 days to cover. Shares are up 16.4% 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:
  • Powered by its strong earnings growth of 200.00% and other important driving factors, this stock has surged by 52.99% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, GLW should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • 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. We feel that this trend should continue. During the past fiscal year, CORNING INC increased its bottom line by earning $1.34 versus $1.07 in the prior year. This year, the market expects an improvement in earnings ($1.45 versus $1.34).
  • 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 171.6% when compared to the same quarter one year prior, rising from $155.00 million to $421.00 million.
  • GLW's debt-to-equity ratio is very low at 0.16 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 3.72, which clearly demonstrates the ability to cover short-term cash needs.
  • The gross profit margin for CORNING INC is rather high; currently it is at 51.69%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 21.52% significantly outperformed against the industry average.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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