Corning (NYSE:GLW) Price Target Raised to $243.00 at Bank of America

Corning (NYSE:GLW) had its price objective increased by Bank of America from $223.00 to $243.00 in a report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

Several other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Oppenheimer upped their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $192.00.

Corning Price Performance

NYSE GLW opened at $186.94 on Monday. The business’s fifty day moving average is $191.10 and its 200 day moving average is $147.55. Corning has a fifty-two week low of $51.32 and a fifty-two week high of $271.78. 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 company has a market capitalization of $160.89 billion, a PE ratio of 90.60, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last 90 days. 0.25% of the stock is owned by company insiders.

Institutional Trading of Corning

Large investors have recently added to or reduced their stakes in the company. Signature Equity Partners LLC boosted its position in shares of Corning by 19.3% during the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC lifted its position in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares during the last quarter. Balefire LLC lifted its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. Millstone Evans Group LLC grew its stake in shares of Corning by 1.3% in the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after buying an additional 67 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after buying an additional 70 shares during the last quarter. Institutional investors 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.