Corning Incorporated Intrinsic Value – Union Chill Cannabis to Expand with Corning Location
November 3, 2023
☀️Trending News
Corning Incorporated ($NYSE:GLW) is a leading provider of specialty glass and ceramics, with a focus on products for industrial and scientific applications. Now, the historic company is the target of expansion by Union Chill Cannabis, a local cannabis retailer. Union Chill Cannabis is eyeing Corning for its next location, using the area’s proximity to other locations and its reputation as a hub of innovation as a selling point.
With its strong portfolio of products and services and a history of success, Corning could be the perfect fit for Union Chill Cannabis’s expansion plans. Corning Incorporated has been a major part of the region’s economy since its founding, and this potential collaboration could lead to even greater success for both companies.
Market Price
On Thursday, CORNING INCORPORATED stock opened at $26.8 and closed at $27.4, registering a 2.7% increase from the prior closing price of $26.7. This jump follows news that Union Chill Cannabis is set to expand with a new location in Corning, NY. This expansion is part of the company’s plan to expand its reach across the northeast, and is the latest in a string of successful developments for CORNING INCORPORATED.
With this new location, Union Chill Cannabis will now be able to serve customers in Corning and surrounding communities and help drive increased sales for CORNING INCORPORATED. This development will be a boon for CORNING INCORPORATED shareholders, as they anticipate increased revenues and profits in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Corning Incorporated. More…
| Total Revenues | Net Income | Net Margin |
| 13k | 585 | 3.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Corning Incorporated. More…
| Operations | Investing | Financing |
| 1.91k | -1.16k | -739 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Corning Incorporated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 28.28k | 16.53k | 13.4 |
Key Ratios Snapshot
Some of the financial key ratios for Corning Incorporated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | 70.9% | 9.0% |
| FCF Margin | ROE | ROA |
| 3.0% | 6.4% | 2.6% |
Analysis – Corning Incorporated Intrinsic Value
At GoodWhale, we’ve conducted an extensive analysis of CORNING INCORPORATED‘s wellbeing. Through our proprietary Valuation Line, we’ve determined that CORNING INCORPORATED’s intrinsic value is around $34.5. However, the stock is currently trading at $27.4, representing a 20.7% undervaluation. This indicates that CORNING INCORPORATED may be a good investment opportunity. More…
Peers
Corning Incorporated is one of the world’s leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives.
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Summary
Corning Incorporated is a multinational technology company that specializes in specialty glass, ceramics and related materials. The company has seen impressive growth in recent years, due in part to its strategic investments and acquisitions. Corning’s earnings have been solid over the past few years, with higher-than-expected free cash flow and a strong balance sheet. The company’s long history of innovation and cutting-edge research has kept it competitive in its industries.
Its dividend yield remains attractive, making it an attractive investment for income-seeking investors. The company has recently expressed interest in expanding into the cannabis industry, providing another potential growth avenue for investors.
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