Corning (NYSE:GLW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Corning (NYSE:GLW) from a hold rating to a buy rating in a research report released on Saturday.

A number of other research firms also recently commented on GLW. Citigroup lifted their target price on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Oppenheimer boosted their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 1.1%

GLW opened at $152.97 on Friday. The firm has a market capitalization of $131.65 billion, a price-to-earnings ratio of 73.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company’s 50 day simple moving average is $191.73 and its two-hundred day simple moving average is $153.75. Corning has a 1-year low of $53.29 and a 1-year high of $271.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts expect that Corning will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s 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 sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Corning in the fourth quarter valued at approximately $921,435,000. Capital Research Global Investors increased its holdings in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Polar Capital Holdings Plc raised its position in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares during the period. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in Corning during the 4th quarter worth $185,312,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.