Corning Incorporated (NYSE:GLW) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Corning Incorporated (NYSE:GLW) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $91.6364.

Several research analysts have recently weighed in on the company. Argus upped their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Susquehanna upped their price objective on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Barclays lifted their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday.

Corning Trading Up 0.9%

GLW stock opened at $83.68 on Wednesday. Corning has a 52-week low of $37.31 and a 52-week high of $92.57. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The firm has a market cap of $71.75 billion, a P/E ratio of 52.96, a PEG ratio of 1.81 and a beta of 1.11. The company’s 50-day simple moving average is $84.54 and its 200-day simple moving average is $68.22.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.Corning’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities analysts forecast that Corning will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is 70.89%.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president directly owned 17,575 shares in the company, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 173,856 shares of company stock valued at $15,456,476. Insiders own 0.32% of the company’s stock.

Institutional Trading of Corning

Several large investors have recently bought and sold shares of the business. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter worth $25,000. REAP Financial Group LLC increased its position in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Strengthening Families & Communities LLC purchased a new stake in Corning in the 3rd quarter valued at about $27,000. Total Investment Management Inc. acquired a new position in Corning in the second quarter valued at about $28,000. Finally, Cornerstone Planning Group LLC lifted its position in Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.