Corning Incorporated (NYSE:GLW) Stock Has Average Price Target of $176.50

Key Points

• Analyst sentiment is moderately bullish: Corning has a “Moderate Buy” consensus from 18 analysts, with 12 buys and 6 holds, and an average 12-month price target of $176.50.
• Recent results exceeded expectations: Corning reported quarterly EPS of $0.78 versus the $0.76 consensus and revenue of $4.74 billion versus estimates of $4.63 billion; revenue increased 17.1% year over year.
• Shares opened at $151.50, below the average analyst target, while institutional investors own 69.8% of the stock. An executive vice president recently sold 13,100 shares at an average price of $151.29.

Shares of Corning Incorporated (NYSE:GLW - Get Free Report) have been given an average rating of "Moderate Buy" by the eighteen research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $176.50.

A number of research firms have issued reports on GLW. The Goldman Sachs Group restated an "outperform" rating on shares of Corning in a research report on Tuesday, September 15th. Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research report on Monday, August 24th. Morgan Stanley dropped their price target 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. 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. Finally, China Renaissance raised shares of Corning from a "hold" rating to a "buy" rating and set a $238.00 price objective on the stock in a research note on Tuesday, September 8th.

Corning Stock Down 3.3%

NYSE:GLW opened at $151.50 on Tuesday. The stock's fifty day moving average price is $152.72 and its two-hundred day moving average price is $166.94. Corning has a 52-week low of $77.39 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market cap of $130.50 billion, a price-to-earnings ratio of 69.18, a P/E/G ratio of 2.00 and a beta of 1.16.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning will post 3.28 EPS for the current year.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the 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 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 document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock worth $10,500,315,000 after buying an additional 4,845,027 shares during the period. Bank of America Corp DE boosted its stake in Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the last quarter. Capital Research Global Investors boosted its stake in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $3,365,084,000 after purchasing an additional 4,446,514 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Corning by 16.5% during the fourth quarter. Bank of New York Mellon Corp now owns 6,765,011 shares of the electronics maker's stock valued at $592,344,000 after purchasing an additional 957,838 shares during the period. Institutional investors own 69.80% of the company's stock.

About Corning

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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