Corning (NYSE:GLW) Stock Price Up 4.5% – Should You Buy?
by Michael Walen · The Markets DailyCorning Incorporated (NYSE:GLW – Get Free Report)’s share price traded up 4.5% during mid-day trading on Monday . The company traded as high as $129.61 and last traded at $128.8360. 15,689,410 shares changed hands during trading, an increase of 43% from the average session volume of 10,966,553 shares. The stock had previously closed at $123.29.
Wall Street Analysts Forecast Growth
GLW has been the subject of a number of research reports. Mizuho set a $145.00 price target on shares of Corning in a report on Monday, February 23rd. Morgan Stanley upped their price target on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. UBS Group raised their price objective on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. increased their target price on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.42.
Check Out Our Latest Analysis on Corning
Corning Trading Down 3.3%
The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. The firm has a market capitalization of $113.05 billion, a P/E ratio of 71.62, a PEG ratio of 2.23 and a beta of 1.05. The firm has a 50 day simple moving average of $115.25 and a two-hundred day simple moving average of $94.15.
Corning (NYSE:GLW – Get Free Report) last announced its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating 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 company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.
Corning Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 60.87%.
Insider Activity
In other Corning news, SVP Li Fang sold 9,797 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available at this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 233,201 shares of company stock worth $32,614,558. Corporate insiders own 0.40% of the company’s stock.
Hedge Funds Weigh In On Corning
A number of hedge funds and other institutional investors have recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning in the third quarter worth about $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC purchased a new position in Corning in the third quarter valued at approximately $27,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Corning in the fourth quarter valued at approximately $27,000. 69.80% of the stock is owned by hedge funds and other institutional investors.
About Corning
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.