Corning (NYSE:GLW) Coverage Initiated by Analysts at Mizuho

Investment analysts at Mizuho began coverage on shares of Corning (NYSE:GLW - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set a "neutral" rating and a $36.00 price target on the electronics maker's stock. Mizuho's target price suggests a potential upside of 7.69% from the company's current price.

A number of other brokerages also recently weighed in on GLW. HSBC downgraded Corning from a "hold" rating to a "reduce" rating and set a $29.00 price target for the company. in a report on Thursday, February 1st. StockNews.com raised Corning from a "sell" rating to a "hold" rating in a research report on Monday, April 1st. Susquehanna reissued a "positive" rating and set a $40.00 price objective on shares of Corning in a report on Monday, April 1st. UBS Group increased their target price on Corning from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Finally, Barclays raised their price objective on Corning from $28.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.00.

Corning Trading Down 0.0 %

GLW traded down $0.01 during midday trading on Tuesday, hitting $33.43. The company's stock had a trading volume of 3,997,451 shares, compared to its average volume of 4,860,802. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a market cap of $28.64 billion, a P/E ratio of 47.10, a PEG ratio of 1.71 and a beta of 1.07. The firm has a 50-day moving average price of $32.38 and a two-hundred day moving average price of $30.69. Corning has a 52-week low of $25.26 and a 52-week high of $36.01.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.12 billion. Corning had a return on equity of 12.31% and a net margin of 4.96%. The company's revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, research analysts anticipate that Corning will post 1.9 earnings per share for the current year.

Insider Buying and Selling at Corning

In other Corning news, VP Martin J. Curran sold 16,416 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $33.70, for a total transaction of $553,219.20. Following the completion of the transaction, the vice president now owns 65,598 shares of the company's stock, valued at $2,210,652.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of Corning stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the completion of the transaction, the insider now directly owns 215,254 shares of the company's stock, valued at approximately $7,155,042.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Martin J. Curran sold 16,416 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.70, for a total value of $553,219.20. Following the completion of the sale, the vice president now owns 65,598 shares of the company's stock, valued at $2,210,652.60. The disclosure for this sale can be found here. Insiders sold a total of 239,841 shares of company stock worth $7,971,257 over the last three months. Company insiders own 0.45% of the company's stock.

Institutional Trading of Corning

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Corning by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 31,312,779 shares of the electronics maker's stock worth $953,474,000 after buying an additional 2,597,878 shares in the last quarter. Morgan Stanley lifted its holdings in Corning by 5.1% during the 3rd quarter. Morgan Stanley now owns 21,899,529 shares of the electronics maker's stock worth $667,279,000 after buying an additional 1,060,450 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Corning by 15.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,615,078 shares of the electronics maker's stock worth $536,114,000 after buying an additional 2,301,745 shares during the last quarter. Northern Trust Corp lifted its holdings in Corning by 2.0% during the 3rd quarter. Northern Trust Corp now owns 12,039,900 shares of the electronics maker's stock worth $366,856,000 after buying an additional 232,699 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Corning by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,722,106 shares of the electronics maker's stock worth $296,054,000 after buying an additional 146,807 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

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.