Corning (NYSE:GLW) Earns Buy Rating from Analysts at China Renaissance

Key Points

• China Renaissance initiated coverage of Corning with a Buy rating and a $238 price target, implying 54.32% upside from the prior close.
• Corning’s analyst consensus remains “Moderate Buy”, with 11 Buy ratings, six Holds, and an average price target of $178.64.
• Corning exceeded quarterly expectations, reporting $0.78 in EPS and $4.74 billion in revenue, while revenue grew 17.1% year over year; shares opened at $154.22 and were down 0.1%.

Equities research analysts at China Renaissance began coverage on shares of Corning (NYSE:GLW - Get Free Report) in a report released on Tuesday, Benzinga reports. The firm set a "buy" rating and a $238.00 price target on the electronics maker's stock. China Renaissance's price objective indicates a potential upside of 54.32% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Bank of America boosted their price target on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Morgan Stanley reduced their price objective on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Truist Financial raised Corning from a "hold" rating to a "buy" rating and dropped their target price for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Finally, UBS Group reissued a "buy" rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $178.64.

Corning Trading Down 0.1%

GLW opened at $154.22 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $162.71 and its two-hundred day moving average is $165.56. The company has a market capitalization of $132.84 billion, a P/E ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16. Corning has a 52 week low of $70.06 and a 52 week high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business's revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning will post 3.27 earnings per share for the current year.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company's stock, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLW. California State Teachers Retirement System lifted its position in Corning by 26,791.0% during the second quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker's stock valued at $78,868,773,000 after purchasing an additional 307,620,415 shares during the period. Norges Bank acquired a new position in shares of Corning in the 4th quarter valued at about $921,435,000. Bank of New York Mellon Corp acquired a new position in shares of Corning in the 2nd quarter valued at about $1,510,911,000. Capital Research Global Investors boosted its stake in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Corning during the second quarter worth about $1,212,283,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

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