Corning (NYSE:GLW) Trading Down 6.6% – Time to Sell?
by Danessa Lincoln · The Markets DailyShares of Corning Incorporated (NYSE:GLW – Get Free Report) traded down 6.6% on Tuesday . The stock traded as low as $141.40 and last traded at $147.40. 14,776,074 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 10,491,008 shares. The stock had previously closed at $157.86.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GLW shares. Barclays set a $100.00 target price on shares of Corning in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Finally, Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.42.
Check Out Our Latest Analysis on Corning
Corning Stock Down 6.6%
The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $109.66 and a two-hundred day simple moving average of $91.16. The stock has a market cap of $126.46 billion, a P/E ratio of 80.11, a P/E/G ratio of 2.60 and a beta of 1.04.
Corning (NYSE:GLW – Get Free Report) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.
Corning Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio is 60.87%.
Insider Activity at Corning
In related news, insider Eric S. Musser sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider directly owned 4,926 shares of the company’s stock, valued at $641,611.50. This trade represents a 75.28% 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, VP John Z. Zhang sold 1,531 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total value of $204,771.25. The SEC filing for this sale provides additional information. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 in the last quarter. 0.32% of the stock is currently owned by company insiders.
Institutional Trading of Corning
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in Corning in the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning in the second quarter worth about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning during the 2nd quarter valued at approximately $266,000. 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.