Corning (NYSE:GLW) Upgraded to “Buy” at Wall Street Zen

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

A number of other research firms have also recently issued reports on GLW. Bank of America increased their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Morgan Stanley set a $180.00 price target on Corning in a report on Friday, May 8th. Barclays increased their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Finally, Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $177.92.

Corning Price Performance

Corning stock opened at $192.18 on Friday. The stock has a market capitalization of $165.40 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 2.74 and a beta of 1.14. Corning has a 52-week low of $47.40 and a 52-week high of $211.79. The stock’s 50 day moving average price is $156.22 and its two-hundred day moving average price is $119.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

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, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 170,774 shares of company stock valued at $28,148,435 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signature Equity Partners LLC raised its position in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its position in Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 64 shares during the last quarter. Balefire LLC raised its position in Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after buying an additional 65 shares during the last quarter. Millstone Evans Group LLC raised its position in Corning by 1.3% in the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after buying an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after buying an additional 70 shares during the last quarter. 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.