Corning (NYSE:GLW) Stock Price Up 2.6% - Should You Buy?

Key Points

• Corning shares rose 2.6% in Tuesday trading, reaching an intraday high of $193.71 before last trading at $187.94, on lighter-than-normal volume.
• Analysts remain generally positive: Corning has an average Moderate Buy rating and a consensus price target of $194.69, though a few firms recently downgraded the stock while others raised targets as high as $270.
• The company reported better-than-expected Q1 results with EPS of $0.70 on revenue of $4.34 billion, and it also announced a quarterly dividend of $0.28 per share, yielding about 0.6% annually.

Corning Incorporated (NYSE:GLW - Get Free Report) traded up 2.6% during mid-day trading on Tuesday . The company traded as high as $193.71 and last traded at $187.94. Approximately 6,723,371 shares traded hands during trading, a decline of 48% from the average session volume of 12,812,708 shares. The stock had previously closed at $183.11.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GLW shares. Zacks Research cut shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Oppenheimer lifted their target price on shares of Corning from $210.00 to $230.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Mizuho boosted their price target on Corning from $220.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Finally, Wall Street Zen lowered Corning from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.69.

Corning Trading Up 2.6%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market cap of $161.75 billion, a PE ratio of 89.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The stock has a 50-day simple moving average of $193.56 and a two-hundred day simple moving average of $151.06.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $0.54 EPS. The business's quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio (DPR) is presently 53.59%.

Insider Activity

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 908,353 shares of the company's stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its position in shares of Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after buying an additional 6,493 shares in the last quarter. Security National Bank raised its stake in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after acquiring an additional 56,056 shares during the period. Three Seasons Wealth LLC purchased a new stake in Corning in the 4th quarter worth about $1,750,000. RiverFront Investment Group LLC lifted its stake in shares of Corning by 65.4% during the 4th quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker's stock worth $1,289,000 after acquiring an additional 5,818 shares during the last quarter. Finally, North Dakota State Investment Board bought a new stake in shares of Corning during the fourth quarter worth $2,345,000. 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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