Corning Incorporated (NYSE:GLW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Corning Incorporated (NYSE:GLW) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $178.3077.

Several equities research analysts have recently weighed in on GLW shares. 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. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. UBS Group increased their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Citigroup increased their target price on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 160,655 shares of company stock valued at $30,692,561. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the third quarter worth about $25,000. Berbice Capital Management LLC purchased a new stake in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new stake in Corning during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new stake in Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Corning during the fourth quarter worth about $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Trading Up 0.2%

Shares of NYSE GLW opened at $195.28 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning has a 52-week low of $49.97 and a 52-week high of $211.79. The firm has a 50 day moving average price of $180.63 and a two-hundred day moving average price of $137.25. The stock has a market cap of $168.06 billion, a P/E ratio of 93.44, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

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.