Corning (NYSE:GLW) Shares Down 5.3% - Time to Sell?

Key Points

• Corning shares fell 5.3% to $158.57, trading below the 50-day moving average of $177.85 but near the 200-day average of $160.96.
• Analysts remain broadly positive, with 11 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $174.08.
• Corning exceeded quarterly earnings and revenue estimates, reporting $0.78 EPS and $4.74 billion in revenue, while guiding for third-quarter EPS of $0.85–$0.89. The company also declared a $0.28 quarterly dividend, although its CEO and an executive vice president recently sold shares.

Corning Incorporated (NYSE:GLW - Get Free Report) fell 5.3% during mid-day trading on Thursday . The company traded as low as $157.91 and last traded at $158.57. 8,501,262 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 12,983,973 shares. The stock had previously closed at $167.44.

Analysts Set New Price Targets

A number of research analysts have commented on GLW shares. Wall Street Zen upgraded Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Susquehanna lifted their price target on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Morgan Stanley lowered their price target on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Barclays cut their price objective on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a "hold" rating to a "buy" rating and decreased their price target for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $174.08.

Corning Trading Down 5.3%

The company's fifty day moving average is $177.85 and its 200-day moving average is $160.96. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $136.59 billion, a P/E ratio of 72.41, a P/E/G ratio of 2.04 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is presently 51.14%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated 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 sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company's stock.

Institutional Trading of Corning

Institutional investors have recently bought and sold shares of the stock. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new stake in Corning during the 2nd quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.