Corning (NYSE:GLW) Stock Picked Up by Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein assumed coverage on shares of Corning (NYSE:GLW) in a research note issued on Wednesday, MarketBeat reports. The brokerage set a “market perform” rating and a $140.00 price target on the electronics maker’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 12.00% from the stock’s previous close.

GLW has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday, September 8th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Finally, UBS Group restated a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Corning Price Performance

NYSE GLW opened at $159.09 on Wednesday. The stock’s 50-day moving average price is $152.66 and its two-hundred day moving average price is $167.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a market cap of $137.04 billion, a PE ratio of 72.64, a PEG ratio of 1.93 and a beta of 1.16. Corning has a 1 year low of $77.39 and a 1 year high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts predict that Corning will post 3.28 EPS for the current year.

Insider Activity at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Corning in the 2nd quarter worth approximately $1,510,911,000. Capital Research Global Investors lifted its stake in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the period. State Street Corp grew its holdings in shares of Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares in the last quarter. Legal & General Group Plc acquired a new stake in Corning during the second quarter worth $1,212,283,000. Finally, Wellington Management Group LLP boosted its position in shares of Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after acquiring an additional 4,446,514 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AT&T agreement worth more than $3 billion: Corning will supply fiber and cable to AT&T under a multiyear deal as the telecom company expands its network to meet rising internet and data demand. The contract improves Corning’s revenue visibility and supports its Optical Communications growth outlook. AT&T signs over $3 billion fiber deal with Corning as data demand surges
• Positive Sentiment: AI and connectivity demand remain supportive: The AT&T deal adds to investor enthusiasm around Corning’s fiber, optical and photonics businesses, which are benefiting from network investment and AI-related data-center demand. Corning’s latest quarterly revenue increased 17.1% year over year, while EPS exceeded analyst estimates. AT&T and Corning Team Up to Engineer the Connected World with Fiber
• Positive Sentiment: Sector sentiment improved: Corning participated in a rebound among optics and photonics stocks following a recent selloff, providing an additional short-term boost to the shares. Optics stocks rebound
• Neutral Sentiment: Valuation remains a consideration: Analyst targets are generally above the current share price, but Corning trades at a high reported P/E multiple, leaving the stock sensitive to expectations for continued AI and fiber growth.
• Negative Sentiment: Potential dilution and litigation overhang: Investors remain concerned about Corning’s authorization to sell up to $2 billion of common stock, which could dilute existing holders. Separately, Pomerantz LLP announced an investigation into potential investor claims, adding a legal headline risk. Pomerantz investor alert

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.