Corning (NYSE:GLW) Trading Up 6.6% - What's Next?

Key Points

• Corning shares jumped 6.6% on Thursday, reaching as high as $193.75, with trading volume running above average at 13.6 million shares.
• Analyst sentiment remains constructive: Mizuho and Barclays both raised price targets, while Wall Street Zen and Zacks upgraded the stock. The current consensus rating is Moderate Buy with a target price of $177.92.
• The company posted solid recent results, beating earnings and revenue expectations last quarter and issuing Q2 2026 EPS guidance of $0.73 to $0.77. Corning also announced a quarterly dividend of $0.28 per share, payable June 29.

Corning Incorporated (NYSE:GLW - Get Free Report) shares were up 6.6% on Thursday . The stock traded as high as $193.75 and last traded at $192.5390. Approximately 13,605,377 shares were traded during trading, an increase of 13% from the average daily volume of 12,069,777 shares. The stock had previously closed at $180.69.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLW. Mizuho upped their price target on shares of Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Sunday. Fox Advisors downgraded shares of Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. Finally, Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

Corning Stock Up 6.6%

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 market cap of $165.71 billion, a PE ratio of 92.12, a P/E/G ratio of 2.52 and a beta of 1.14. The firm's 50 day moving average is $159.19 and its 200-day moving average is $121.78.

Corning (NYSE:GLW - Get Free Report) last announced 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 business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors 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 annualized dividend and a dividend yield of 0.6%. Corning's dividend payout ratio is presently 53.59%.

Insider Activity

In related news, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were 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. This represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

Several institutional investors and hedge funds have recently modified their holdings of GLW. Vanguard Group Inc. increased its position in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock worth $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp increased its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC increased its position in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock worth $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors increased its position in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.