Corning (NYSE:GLW) Trading 1.4% Higher - Should You Buy?

Key Points

• Corning (NYSE:GLW) traded up 1.4% on Monday, reaching $163.68 with ~8.49M shares changing hands (about 24% below its average daily volume); the company has a market cap of $137.8B and a P/E of 76.75.
• Analysts are mostly positive — one Strong Buy, ten Buy and five Hold — giving an average rating of “Moderate Buy” and an average price target of $150.31, while firms like Citigroup and Bank of America recently raised targets to $175 and $186 respectively.
• Corning beat Q1 estimates with EPS of $0.70 and revenue of $4.35B (up 18.1% YoY), issued Q2 guidance of $0.730–0.770 EPS, announced a $0.28 quarterly dividend (0.7% yield), and saw insider selling including CEO Wendell P. Weeks’ sale of 137,514 shares.

Corning Incorporated (NYSE:GLW - Get Free Report) was up 1.4% during trading on Monday . The stock traded as high as $163.68 and last traded at $160.4080. Approximately 8,485,479 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 11,184,849 shares. The stock had previously closed at $158.26.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup boosted their target price on shares of Corning from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Mizuho set a $145.00 price target on shares of Corning in a research note on Monday, February 23rd. Truist Financial lifted their price objective on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Finally, HSBC reiterated a "buy" rating and issued a $135.00 target price on shares of Corning in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $150.31.

Corning Stock Up 1.4%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $148.66 and a 200-day simple moving average of $113.22. The stock has a market cap of $137.80 billion, a P/E ratio of 76.75, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.17 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares of the company's stock, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Musser sold 15,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $130.25, for a total value of $1,953,750.00. Following the transaction, the insider owned 4,926 shares in the company, valued at approximately $641,611.50. This trade represents a 75.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 187,053 shares of company stock valued at $27,653,630. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corning

A number of large investors have recently made changes to their positions in the company. Merit Financial Group LLC increased its stake in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after acquiring an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its stake in Corning by 4.9% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock worth $21,471,000 after acquiring an additional 12,297 shares during the period. Hartline Investment Corp increased its stake in Corning by 113.2% during the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker's stock worth $24,229,000 after acquiring an additional 156,843 shares during the period. Three Seasons Wealth LLC bought a new position in Corning during the 4th quarter worth $1,750,000. Finally, Natixis Advisors LLC increased its stake in Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock worth $39,367,000 after acquiring an additional 116,583 shares during the period. Institutional investors own 69.80% of the company's stock.

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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