Corning (NYSE:GLW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Corning (NYSE:GLW) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Several other equities analysts have also recently issued reports on GLW. Oppenheimer lowered their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Citigroup lowered their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Mizuho dropped their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Down 4.8%

GLW stock opened at $157.76 on Friday. The firm’s 50-day moving average is $179.35 and its two-hundred day moving average is $159.98. The company has a market capitalization of $135.89 billion, a price-to-earnings ratio of 72.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Corning has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

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. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts forecast that Corning will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atwood & Palmer Inc. acquired a new stake in Corning during the 2nd quarter worth about $26,000. First Community Trust NA acquired a new position in shares of Corning in the 2nd quarter valued at about $72,000. N.E.W. Advisory Services LLC acquired a new position in shares of Corning in the 2nd quarter valued at about $76,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth approximately $26,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

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.