Corning Incorporated (NYSE:GLW – Get Free Report)’s share price was down 6.8% during mid-day trading on Monday . The stock traded as low as $174.21 and last traded at $178.7410. Approximately 16,834,282 shares traded hands during trading, an increase of 40% from the average daily volume of 12,039,577 shares. The stock had previously closed at $191.81.
Analysts Set New Price Targets
Several equities analysts recently commented on GLW shares. Zacks Research raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Oppenheimer increased their price target on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Bank of America raised their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Mizuho boosted their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, UBS Group upped their target price on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.92.
Corning Trading Down 6.8%
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.
Corning Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio is 53.59%.
Insider Activity
In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Corning
Several large investors have recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the third quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new position in shares of Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the 3rd quarter valued at $27,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
About Corning
Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.
Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.
Featured Articles
- Five stocks we like better than Corning
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.
