Corning (NYSE:GLW) Stock Price Up 1.2% – What’s Next?
by Sarita Garza · The Markets DailyShares of Corning Incorporated (NYSE:GLW – Get Free Report) shot up 1.2% during trading on Thursday . The stock traded as high as $160.98 and last traded at $155.9060. 8,692,995 shares changed hands during trading, a decline of 32% from the average daily volume of 12,766,837 shares. The stock had previously closed at $154.06.
Wall Street Analyst Weigh In
Several analysts have issued reports on GLW shares. Citigroup upped their price objective on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Oppenheimer lifted their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.69.
Check Out Our Latest Research Report on GLW
Corning Trading Up 1.2%
The company has a market cap of $134.18 billion, a price-to-earnings ratio of 74.60, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm’s fifty day moving average price is $189.96 and its 200-day moving average price is $154.74.
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.
Corning Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio is 53.59%.
Insider Buying and Selling
In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last ninety days. Insiders own 0.25% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in GLW. Atwood & Palmer Inc. acquired a new position in shares of Corning during the second quarter valued at $26,000. First Community Trust NA bought a new stake in shares of Corning during the second quarter valued at about $72,000. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter worth about $26,000. Finally, MBM Wealth Consultants LLC bought a new position in Corning in the 1st quarter valued at about $42,000. Institutional investors and hedge funds 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.