Brokerages Set Corning Incorporated (NYSE:GLW) Target Price at $90.82

Corning Incorporated (NYSE:GLW) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $90.8182.

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Citigroup raised their price objective on Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Oppenheimer set a $100.00 target price on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Argus upped their target price on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th.

Corning Price Performance

GLW stock opened at $88.61 on Friday. The business has a 50 day moving average price of $82.11 and a 200 day moving average price of $64.03. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock has a market cap of $75.97 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.99 and a beta of 1.15. Corning has a fifty-two week low of $37.31 and a fifty-two week high of $92.57.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts anticipate that Corning will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is 70.89%.

Insiders Place Their Bets

In other Corning news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 173,856 shares of company stock worth $15,456,476. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Corning

Institutional investors have recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC purchased a new position in shares of Corning in the 3rd quarter valued at approximately $27,000. Cornerstone Planning Group LLC lifted its holdings in shares of Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 124 shares during the period. Financial Management Professionals Inc. grew its position in Corning by 111.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. RMG Wealth Management LLC increased its stake in Corning by 125.0% in the 3rd quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock valued at $38,000 after buying an additional 250 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in Corning during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.