Wall Street Zen downgraded shares of Corning (NYSE:GLW – Free Report) from a buy rating to a hold rating in a research note released on Monday morning.
Several other research analysts have also issued reports on the stock. Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Oppenheimer decreased their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Finally, Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.08.
Check Out Our Latest Report on Corning
Corning Price Performance
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts forecast that Corning will post 3.27 EPS for the current fiscal year.
Corning Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 51.14%.
Insider Activity
In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Corning
A number of hedge funds and other institutional investors have recently bought and sold shares of GLW. Brighton Jones LLC increased its position in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning during the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning during the 2nd quarter valued at about $266,000. Hedge funds and other institutional investors 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.
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