China Renaissance upgraded shares of Corning (NYSE:GLW – Free Report) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. China Renaissance currently has $238.00 target price on the electronics maker’s stock.
A number of other brokerages have also issued reports on GLW. Truist Financial raised Corning from a “hold” rating to a “buy” rating and cut their target price for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Citigroup lowered their price target on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Bank of America boosted their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.64.
Read Our Latest Analysis on GLW
Corning Trading Down 3.2%
Corning (NYSE:GLW – Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. Corning’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts anticipate that Corning will post 3.27 earnings per share for the current year.
Corning Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.
Insider Transactions at Corning
In related news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
Institutional Investors Weigh In On Corning
Several large investors have recently bought and sold shares of GLW. Security National Bank raised its position in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares during the period. Herbst Group LLC purchased a new stake in Corning during the second quarter valued at about $4,474,000. Principal Financial Group Inc. grew its position in Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the period. Wealthfront Advisers LLC increased its stake in Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC increased its stake in Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after acquiring an additional 6,998 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
More Corning News
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Corning and Verizon signed a multi-year agreement covering more than 80 million miles of optical fiber and connectivity solutions from 2027 through 2032. The contract provides meaningful long-term demand visibility and supports Verizon’s residential broadband expansion and data-center interconnect plans. Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- Positive Sentiment: The Verizon deal adds to Corning’s growing list of AI-related commitments with Meta, Amazon and NVIDIA. Investors see the agreements as evidence that optical communications is becoming a more important and less consumer-cycle-dependent growth engine for GLW. Verizon, Corning sign multi-billion dollar fiber deal for AI, broadband
- Positive Sentiment: China Renaissance upgraded its rating on Corning, adding further analyst support following the Verizon announcement. Corning Stock Rating Upgraded by China Renaissance
- Neutral Sentiment: Analyst commentary comparing Corning with Celestica highlights that both companies are benefiting from AI infrastructure spending, but through different parts of the data-center supply chain. The comparison supports GLW’s long-term theme without necessarily creating a new near-term catalyst. Celestica vs. Corning: Which AI Infrastructure Stock is a Better Buy?
- Negative Sentiment: The agreement’s deliveries do not begin until 2027, limiting its immediate earnings impact. Corning also trades at an elevated valuation, with a price-to-earnings ratio near 74, leaving the stock vulnerable to profit-taking, execution delays or slower-than-expected AI spending after its recent surge.
Corning Company Profile
Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.
Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.
The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.
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