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

Corning Incorporated (NYSE:GLW) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $174.0769.

Several equities analysts have weighed in on GLW shares. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Morgan Stanley decreased their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Oppenheimer dropped their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th.

Corning Stock Up 4.6%

Shares of NYSE GLW opened at $165.85 on Monday. The firm’s 50-day moving average is $176.82 and its two-hundred day moving average is $161.45. The company has a market capitalization of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. Corning has a 12-month low of $63.37 and a 12-month high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping 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 business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period last year, the company posted $0.60 EPS. The company’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after acquiring an additional 580,678 shares during the period. State Street Corp grew its holdings in Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the period. Geode Capital Management LLC grew its holdings in Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after purchasing an additional 517,067 shares during the period. Capital Research Global Investors increased its position in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

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.