Corning Incorporated (NYSE:GLW - Get Free Report) shares were up 1% during trading on Friday . The stock traded as high as $194.98 and last traded at $193.8320. Approximately 8,317,725 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 12,039,673 shares. The stock had previously closed at $191.89.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Oppenheimer lifted their price target on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. HSBC reaffirmed a "buy" rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. Finally, Wolfe Research set a $130.00 price target on Corning and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. One research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.92.
Check Out Our Latest Report on Corning
Corning Price Performance
The stock has a 50 day simple moving average of $160.32 and a two-hundred day simple moving average of $122.51. The company has a market cap of $166.82 billion, a price-to-earnings ratio of 92.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.
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 for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The company 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 firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.19 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. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's payout ratio is 53.59%.
Insider Buying and Selling
In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Corning
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signature Equity Partners LLC raised its position in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC raised its position in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after purchasing an additional 64 shares during the period. Balefire LLC raised its position in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after purchasing an additional 65 shares during the period. Millstone Evans Group LLC raised its position in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock valued at $733,000 after purchasing an additional 67 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock valued at $623,000 after purchasing an additional 70 shares during the period. 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.
Further Reading
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