Corning’s (GLW) Buy Rating Reaffirmed at Truist Financial

Corning (NYSE:GLW)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research report issued on Wednesday, Benzinga reports. They presently have a $175.00 price objective on the electronics maker’s stock, down from their previous price objective of $182.00. Truist Financial‘s price objective suggests a potential upside of 33.20% from the stock’s previous close.

Several other research firms have also commented on GLW. Citigroup reaffirmed a “buy” rating on shares of Corning in a research report on Tuesday. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. 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 note on Tuesday, September 8th. Oppenheimer cut their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Barclays lifted their target price on Corning from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.81.

Corning Trading Up 4.0%

Corning stock traded up $5.08 during midday trading on Wednesday, hitting $131.38. 5,249,935 shares of the stock were exchanged, compared to its average volume of 11,875,249. 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 stock’s 50-day simple moving average is $149.49 and its 200 day simple moving average is $154.34. Corning has a fifty-two week low of $77.39 and a fifty-two week high of $271.78. The stock has a market capitalization of $113.17 billion, a price-to-earnings ratio of 60.01, a PEG ratio of 1.56 and a beta of 1.13.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business posted $0.67 EPS. Corning’s revenue was up 18.9% on a year-over-year basis. On average, equities analysts anticipate that Corning will post 3.30 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Corning

Several large investors have recently added to or reduced their stakes in GLW. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Corning by 25.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 100,104 shares of the electronics maker’s stock worth $15,392,000 after acquiring an additional 20,100 shares in the last quarter. Partners Wealth Management LLC raised its stake in shares of Corning by 92.4% in the third quarter. Partners Wealth Management LLC now owns 7,753 shares of the electronics maker’s stock valued at $1,192,000 after acquiring an additional 3,724 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in shares of Corning by 352.8% in the third quarter. Soltis Investment Advisors LLC now owns 39,912 shares of the electronics maker’s stock valued at $6,137,000 after acquiring an additional 31,097 shares in the last quarter. Founders Financial Securities LLC raised its stake in shares of Corning by 23.7% in the third quarter. Founders Financial Securities LLC now owns 3,483 shares of the electronics maker’s stock valued at $536,000 after acquiring an additional 668 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its holdings in Corning by 41.2% in the third quarter. Financial Network Wealth Advisors LLC now owns 631 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 184 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Strong Q3 performance: Corning reported core sales of $5.08 billion, up 19% year over year and ahead of expectations. Adjusted earnings reached $0.91 per share, exceeding the roughly $0.88-$0.89 consensus. Corning Delivers Outstanding Third-Quarter Results
• Positive Sentiment: AI demand is accelerating Optical Communications: Segment sales rose 44% to approximately $2.38 billion, while Enterprise Networks sales increased about 84%. The growth reflects strong demand for fiber used in AI data centers and other high-bandwidth networks. GLW Q3 Earnings Beat Estimates on Strong Optical Communication Growth
• Positive Sentiment: Margins and outlook improved: Gross margin expanded to about 40.5% and operating margin reached roughly 22.7%. Management also issued a stronger fourth-quarter outlook and is targeting a $40 billion annualized sales run rate by 2030, supported by long-term customer agreements and potential growth as data centers shift from copper to optical connections. Corning Stock Slips as Q3 Earnings Flash Margin Strength
• Neutral Sentiment: Analyst views are diverging: Truist lowered its price target to $175 but called the pullback a buying opportunity, while Morgan Stanley cut its target from $165 to $155 and maintained an Equal Weight rating. These revisions suggest continued confidence in the business but less tolerance for GLW’s valuation. Morgan Stanley Corning Ratings
• Negative Sentiment: Expectations remain a near-term headwind: Shares have pulled back sharply after a strong prior run, even though earnings beat estimates. Investors may be concerned that the strong AI growth is already reflected in the valuation and that quarterly revenue comparisons or future execution may not consistently exceed elevated expectations. Why Shares of Corning Are Tumbling Lower

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.