Shares of Corning Incorporated (NYSE:GLW - Get Free Report) were down 8.6% during trading on Friday . The stock traded as low as $122.38 and last traded at $123.21. Approximately 19,058,688 shares traded hands during mid-day trading, an increase of 75% from the average daily volume of 10,913,490 shares. The stock had previously closed at $134.74.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GLW. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Morgan Stanley lifted their target price on Corning from $103.00 to $127.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Barclays set a $100.00 price target on Corning in a research note on Thursday, January 29th. UBS Group lifted their price objective on shares of Corning from $125.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, Fox Advisors cut shares of Corning from an "overweight" rating to an "equal weight" rating in a research note on Thursday, January 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Corning presently has an average rating of "Moderate Buy" and a consensus price target of $125.42.
View Our Latest Research Report on Corning
Corning Trading Down 8.6%
The company has a market cap of $105.71 billion, a price-to-earnings ratio of 66.96, a P/E/G ratio of 2.51 and a beta of 1.05. The business has a fifty day simple moving average of $112.83 and a 200 day simple moving average of $92.40. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.
Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the firm posted $0.57 EPS. The business's revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning's dividend payout ratio (DPR) is 60.87%.
Insider Transactions at Corning
In related news, VP John Z. Zhang sold 1,531 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 750,585 shares of the company's stock, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 233,201 shares of company stock worth $32,614,558 in the last quarter. Insiders own 0.40% of the company's stock.
Hedge Funds Weigh In On Corning
Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC boosted its position in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning in the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Corning during the 2nd quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning during the 2nd quarter valued at approximately $266,000. Hedge funds and other institutional investors own 69.80% of the company's stock.
About Corning
(
Get Free Report)
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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