Corning's (GLW) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Corning's stock holds a current rating of "Hold (C+)" by Weiss Ratings, although several brokerages have varying opinions with target price adjustments, including JPMorgan Chase and Citigroup.
• The company has shown financial strength, reporting $0.60 EPS for the last quarter, surpassing analyst expectations, and setting a Q3 2025 guidance between 0.630-0.670 EPS.
• Insider selling was noted, with COO Avery H. Nelson III selling 36,240 shares, representing a significant reduction in ownership by 35.85%.

Corning (NYSE:GLW - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other brokerages have also weighed in on GLW. JPMorgan Chase & Co. increased their target price on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Morgan Stanley upped their price target on shares of Corning from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, October 10th. Wall Street Zen cut shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. Wolfe Research initiated coverage on shares of Corning in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Finally, Citigroup upped their target price on shares of Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Corning Stock Performance

NYSE GLW traded up $1.62 during trading hours on Friday, reaching $87.46. The company's stock had a trading volume of 7,275,850 shares, compared to its average volume of 6,479,929. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $77.36 and a 200 day simple moving average of $60.07. Corning has a 52 week low of $37.31 and a 52 week high of $87.78. The stock has a market cap of $74.92 billion, a PE ratio of 93.04, a PEG ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the prior year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts predict that Corning will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.40% of the company's stock.

Institutional Trading of Corning

Institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. grew its holdings in Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker's stock worth $31,000 after acquiring an additional 200 shares during the period. Bayforest Capital Ltd acquired a new stake in Corning in the 3rd quarter valued at about $39,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Corning during the 3rd quarter valued at about $42,000. REAP Financial Group LLC grew its stake in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Finally, Total Investment Management Inc. bought a new stake in shares of Corning in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 69.80% of the company's stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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