Corning (NYSE:GLW) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Corning (NYSE:GLW) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

GLW has been the topic of a number of other reports. UBS Group upped their target price on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Truist Financial upped their target price on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Oppenheimer upped their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Wolfe Research set a $130.00 target price on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Price Performance

Shares of GLW stock opened at $190.97 on Tuesday. Corning has a 1 year low of $48.88 and a 1 year high of $211.79. The firm’s 50 day moving average is $165.37 and its 200-day moving average is $125.52. The firm has a market capitalization of $164.35 billion, a price-to-earnings ratio of 91.37, a PEG ratio of 2.81 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. 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 prior year, the business earned $0.54 earnings per share. Corning’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. Sell-side analysts forecast that Corning will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the vice president 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 60,655 shares of company stock valued at $12,046,561. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently bought and sold shares of GLW. Brighton Jones LLC raised its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corning by 9.3% in the first 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 period. Sivia Capital Partners LLC acquired a new stake in Corning in the second quarter worth $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning in the second quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

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.