Corning (NYSE:GLW) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Corning from “strong buy” to “buy,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $174.08.
• Corning reported quarterly EPS of $0.78, surpassing estimates of $0.76, while revenue reached $4.74 billion and rose 17.1% year over year. The company guided for third-quarter EPS of $0.85–$0.89.
• CEO Wendell P. Weeks and SVP Jaymin Amin recently sold shares, reducing their holdings by 9.92% and 22.49%, respectively; institutional investors own approximately 69.8% of Corning’s stock.

Corning (NYSE:GLW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Sunday.

GLW has been the topic of several other reports. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Oppenheimer reduced their target price on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Mizuho dropped their price target on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group reissued a "buy" rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $174.08.

Corning Stock Up 4.6%

GLW opened at $165.85 on Friday. The company has a fifty day moving average of $176.82 and a two-hundred day moving average of $161.45. The stock has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14. Corning has a fifty-two week low of $63.37 and a fifty-two 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.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results 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 analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company's quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. purchased a new stake in Corning in the 2nd quarter valued at about $26,000. Burk Holdings LLC purchased a new position in Corning during the second quarter worth about $53,000. Delos Wealth Advisors LLC purchased a new position in Corning during the second quarter worth about $55,000. Aberdeen Wealth Management LLC acquired a new stake in shares of Corning during the second quarter valued at about $57,000. Finally, ABS Investment Management LLC acquired a new stake in shares of Corning during the second quarter valued at about $664,118,000. Hedge funds and other 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.

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