Corning (NYSE:GLW) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Corning (NYSE:GLW) from a buy rating to a hold rating in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on GLW. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, Mizuho dropped 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. Ten research analysts have rated the stock with a Buy rating and six have assigned 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 $174.08.

Corning Stock Performance

Shares of Corning stock opened at $145.19 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $125.07 billion, a P/E ratio of 66.30, a P/E/G ratio of 1.92 and a beta of 1.14. The business has a fifty day simple moving average of $174.00 and a two-hundred day simple moving average of $163.95. Corning has a 12 month low of $65.75 and a 12 month high of $271.78.

Corning (NYSE:GLW) last announced its 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. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts forecast that Corning will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was 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 owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atwood & Palmer Inc. bought a new position in Corning in the 2nd quarter worth $26,000. Rogco LP purchased a new position in shares of Corning during the 2nd quarter valued at about $27,000. First PREMIER Bank purchased a new position in shares of Corning during the 2nd quarter valued at about $51,000. Burk Holdings LLC bought a new position in shares of Corning during the 2nd quarter valued at approximately $53,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Corning during the 2nd quarter valued at approximately $55,000. 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.