Citigroup Issues Positive Forecast for Corning (NYSE:GLW) Stock Price

Corning (NYSE:GLW) had its price target upped by analysts at Citigroup from $120.00 to $170.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Citigroup’s target price would indicate a potential upside of 5.22% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Wolfe Research set a $130.00 price target on Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Oppenheimer set a $120.00 target price on shares of Corning in a research note on Thursday, January 29th. Barclays set a $100.00 price target on shares of Corning in a research report on Thursday, January 29th. Finally, Susquehanna raised their price target on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Corning Price Performance

Shares of GLW stock traded up $9.97 during trading hours on Wednesday, hitting $161.56. 10,367,531 shares of the company’s stock were exchanged, compared to its average volume of 9,725,200. The company has a market capitalization of $138.61 billion, a PE ratio of 87.89, a PEG ratio of 2.52 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. Corning has a 12-month low of $37.31 and a 12-month high of $161.96. The business’s 50 day simple moving average is $104.26 and its 200-day simple moving average is $88.65.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities research analysts anticipate that Corning will post 2.33 earnings per share for the current year.

Insider Transactions at Corning

In other Corning news, insider Eric S. Musser sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the transaction, the insider owned 19,926 shares in the company, valued at approximately $2,191,860. This represents a 55.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Li Fang sold 9,797 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 95,687 shares of company stock worth $11,249,008. 0.32% of the stock is owned by insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Berbice Capital Management LLC bought a new stake in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the 4th quarter worth approximately $27,000. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Corning in the 3rd quarter worth approximately $27,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

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.