Corning Incorporated (NYSE:GLW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Corning Incorporated (NYSE:GLW) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $90.8182.

Several research analysts recently issued reports on GLW shares. Citigroup raised their target price on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Argus increased their price target on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. UBS Group upped their target price on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Mizuho set a $97.00 target price on Corning in a report on Wednesday, October 29th.

Corning Trading Up 1.3%

Shares of NYSE:GLW opened at $89.05 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. Corning has a 52-week low of $37.31 and a 52-week high of $92.57. The stock has a market cap of $76.35 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 1.99 and a beta of 1.15. The business has a 50-day moving average price of $82.90 and a 200-day moving average price of $64.51.

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

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 173,856 shares of company stock valued at $15,456,476 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLW. Davis Investment Partners LLC purchased a new stake in Corning during the 2nd quarter worth $251,000. Central Pacific Bank Trust Division lifted its stake in shares of Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after purchasing an additional 4,183 shares in the last quarter. Strs Ohio purchased a new stake in shares of Corning in the first quarter worth about $27,219,000. Finally, Acadian Asset Management LLC grew its stake in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after buying an additional 150,521 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

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.