Corning (NYSE:GLW) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Corning (NYSE:GLW) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

GLW has been the topic of a number of other reports. Citigroup lowered their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Mizuho lowered their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group reissued a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Down 7.7%

GLW stock opened at $159.88 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a market capitalization of $137.72 billion, a P/E ratio of 73.00, a P/E/G ratio of 2.12 and a beta of 1.14. The business has a 50-day moving average of $176.26 and a 200-day moving average of $162.76. Corning has a fifty-two week low of $63.37 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. 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 fiscal year.

Corning Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in Corning during the fourth quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in Corning in the 2nd quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the 4th quarter valued at approximately $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s portfolio of Gorilla Glass, advanced display glass and specialty materials gives it exposure to ongoing demand for smartphones, displays, data centers and other technology applications. Can Corning’s Next-Generation Glass Innovations Propel Its Shares?
• Positive Sentiment: An investor letter from The London Company highlighted improving demand at Corning, with AI infrastructure spending supporting the broader technology and optical-components markets. Corning’s latest reported quarter also showed strong momentum, including 17.1% year-over-year revenue growth and earnings above analysts’ expectations. Improving Demand Strengthens Corning (GLW)
• Neutral Sentiment: CEO Wendell Weeks said Corning’s ability to limit tariff exposure depends on strategic supply-chain and production decisions. This may help reassure investors, although tariffs remain a potential cost and margin risk. Corning’s Tariff Immunity Comes Down to One Strategic Choice, CEO Says
• Negative Sentiment: Optics stocks sold off broadly after the Anthropic-related news and WSJ report intensified concern about AI-hardware demand and risk exposure. The sector-wide move weighed on Corning despite its company-specific growth drivers. Optics Stocks Drop on Anthropic News
• Negative Sentiment: Analysts caution that much of Corning’s AI-related success may already be priced into the stock. Its large multiyear gain and elevated earnings-based valuation increase the risk of profit-taking if growth expectations or technology spending weaken. Corning: Strong AI Growth, But Much Success Is Already Priced In

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.