Corning (NYSE:GLW) Stock Price Up 1.9% - Time to Buy?

Key Points

• Corning shares rose 1.9% on Friday, trading near $179.85 after reaching an intraday high of $180.77, as volume came in below its average daily level.
• Analysts remain generally constructive: Corning has a Moderate Buy consensus rating, with price targets recently raised by firms including Citigroup and UBS, though a couple of analysts downgraded the stock to hold.
• The company posted better-than-expected quarterly results with EPS of $0.70 on revenue of $4.35 billion, and it also announced a quarterly dividend of $0.28 per share payable on June 29.

Corning Incorporated (NYSE:GLW - Get Free Report)'s share price rose 1.9% on Friday . The company traded as high as $180.77 and last traded at $179.85. Approximately 8,915,440 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 12,093,989 shares. The stock had previously closed at $176.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GLW shares. Wall Street Zen downgraded shares of Corning from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Citigroup raised their price target on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. UBS Group raised their price target on shares of Corning from $223.00 to $228.00 and gave the company a "buy" rating in a research note on Friday, June 5th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Barclays raised their price target on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $178.31.

Corning Price Performance

The business's 50 day moving average is $176.41 and its two-hundred day moving average is $133.34. The firm has a market cap of $154.79 billion, a P/E ratio of 86.05, a P/E/G ratio of 2.41 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm earned $0.54 earnings per share. Corning's quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning's payout ratio is presently 53.59%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLW. Capital Research Global Investors purchased a new stake in shares of Corning during the 3rd quarter valued at approximately $907,164,000. Norges Bank purchased a new stake in shares of Corning during the 4th quarter valued at approximately $921,435,000. Wellington Management Group LLP lifted its stake in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker's stock valued at $399,505,000 after buying an additional 2,304,676 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Company Profile

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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