Corning (NYSE:GLW) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Corning to “Strong Buy” from “Hold”, while the broader analyst consensus remains “Moderate Buy” with a $175.81 price target.
• Corning reported better-than-expected quarterly results, with EPS of $0.91 versus the $0.88 estimate and revenue up 18.9% year over year to $5.08 billion. Growth was supported by accelerating demand for optical communications products tied to AI data centers.
• Despite the positive outlook, shares opened down 1.8% at $128.87, and several firms recently reduced their price targets, reflecting concerns about valuation, margins and execution.

Corning (NYSE:GLW - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday, Zacks reports.

Several other research firms have also recently issued reports on GLW. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. UBS Group decreased their price objective on shares of Corning from $201.00 to $192.00 and set a "buy" rating for the company in a report on Wednesday. Oppenheimer cut their target price on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Citigroup reiterated a "buy" rating on shares of Corning in a research note on Tuesday. Finally, Bank of America lowered their price target on Corning from $243.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $175.81.

Corning Trading Down 1.8%

Shares of GLW stock opened at $128.87 on Wednesday. The firm has a market cap of $111.01 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The business has a 50-day moving average price of $148.45 and a two-hundred day moving average price of $154.79. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.51. Corning has a 12-month low of $77.39 and a 12-month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The business had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts anticipate that Corning will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock valued at $10,500,315,000 after acquiring an additional 4,845,027 shares during the period. Bank of America Corp DE raised its position in Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP lifted its stake in Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares during the period. Bank of New York Mellon Corp bought a new position in Corning during the second quarter worth about $1,510,911,000. Finally, Legal & General Group Plc bought a new position in Corning during the second quarter worth about $1,212,283,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported better-than-expected quarterly results, with revenue rising 18.9% year over year to approximately $5.1 billion and EPS of $0.91 versus the $0.88 consensus. Gross margin expanded to 40.5% and operating margin reached 22.7%, highlighting substantial profit leverage. Corning Stock Price Up Following Better-Than-Expected Earnings
• Positive Sentiment: Demand for optical communications products is accelerating as artificial-intelligence data centers require greater fiber and connectivity capacity. Optical Communications revenue reportedly increased 44%, while customer-backed capacity expansion and the shift from copper to optical connections could support further growth. Corning Q3 Sales Jump as AI Optical Demand Accelerates
• Positive Sentiment: Truist Financial reaffirmed its Buy rating, maintaining a $175 price target despite lowering it from $182. The firm’s stance indicates it still sees meaningful upside if Corning converts AI-driven demand into sustained sales and margin growth. Truist Reaffirms Buy Rating
• Neutral Sentiment: Morgan Stanley completed its review of Corning’s production expansion but said any valuation improvement depends on stronger profit margins. The firm retains an Equal Weight rating, reflecting a balance between growth potential and execution risk. Morgan Stanley Report on Corning Production Expansion
• Negative Sentiment: Morgan Stanley lowered its price target from $165 to $155, citing limited near-term valuation upside. A separate fair-value estimate also declined from $189.94 to $182.76, underscoring investor concerns that the stock’s high earnings multiple already prices in much of the AI opportunity. Morgan Stanley Lowers Corning Price Target
• Negative Sentiment: Corning has experienced significant recent weakness after retreating from its highs, and ETFs were reported as net sellers. The pullback may improve entry points, but valuation, execution and margin sustainability remain important risks for investors. ETFs Are Net Sellers of Corning

Corning Company Profile

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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