Corning (NYSE:GLW) Stock Price Up 1.3% – What’s Next?
by Mitch Edgeman · The Markets DailyShares of Corning Incorporated (NYSE:GLW – Get Free Report) were up 1.3% on Wednesday . The stock traded as high as $135.91 and last traded at $132.2510. Approximately 8,245,226 shares were traded during trading, a decline of 11% from the average daily volume of 9,254,291 shares. The stock had previously closed at $130.52.
Analysts Set New Price Targets
A number of equities analysts recently commented on GLW shares. Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Argus raised their target price on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Mizuho boosted their price target on Corning from $97.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, UBS Group reiterated a “buy” rating and set a $125.00 target price on shares of Corning in a research report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.25.
Read Our Latest Research Report on GLW
Corning Trading Up 1.3%
The business’s 50 day simple moving average is $99.36 and its two-hundred day simple moving average is $86.00. The stock has a market cap of $113.46 billion, a P/E ratio of 71.88, a PEG ratio of 2.31 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.
Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.Corning’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts expect that Corning Incorporated will post 2.33 EPS for the current year.
Corning Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s dividend payout ratio is presently 60.87%.
Insiders Place Their Bets
In other news, SVP Li Fang sold 9,797 shares of Corning stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,687 shares of company stock valued at $11,249,008 over the last three months. Insiders own 0.40% of the company’s stock.
Institutional Investors Weigh In On Corning
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hartline Investment Corp raised its position in shares of Corning by 113.2% during the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after buying an additional 156,843 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Corning by 638.0% in the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock valued at $28,736,000 after acquiring an additional 472,365 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after acquiring an additional 4,183 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in Corning during the third quarter valued at approximately $3,355,000. 69.80% of the stock is currently owned by institutional investors.
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.