Corning (NYSE:GLW) Downgraded to “Hold” Rating by Wall Street Zen

Corning (NYSE:GLW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts also recently issued reports on the stock. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Oppenheimer increased their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Bank of America increased their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Truist Financial increased their price objective on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Corning Trading Down 10.2%

GLW opened at $177.52 on Friday. The firm’s fifty day moving average is $173.00 and its two-hundred day moving average is $130.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market cap of $152.78 billion, a PE ratio of 84.94, a price-to-earnings-growth ratio of 2.83 and a beta of 1.15. Corning has a twelve month low of $49.47 and a twelve month high of $211.79.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning will post 3.19 EPS for the current year.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were 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 owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,655 shares of company stock worth $12,046,561 in the last three months. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

Large investors have recently added to or reduced their stakes in the company. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. MBM Wealth Consultants LLC acquired a new stake in Corning in the first quarter valued at $42,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning in the third quarter valued at $25,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Corning in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.