Corning (NYSE:GLW) Shares Up 2.2% - Here's Why

Key Points

• Corning shares rose 2.2% to approximately $135.15, with trading volume below its average. The stock has a consensus “Moderate Buy” rating from analysts and an average price target of $177.25.
• Corning’s latest quarterly results exceeded expectations, with EPS of $0.78 versus a $0.76 consensus and revenue of $4.74 billion, up 17.1% year over year. The company issued third-quarter 2026 EPS guidance of $0.85–$0.89.
• The company declared a quarterly dividend of $0.28 per share, equivalent to $1.12 annually and a 0.8% yield. An executive vice president also sold 13,100 shares, while institutional investors own 69.8% of the stock.

Corning Incorporated (NYSE:GLW - Get Free Report) shares were up 2.2% on Wednesday. The company traded as high as $136.77 and last traded at $135.1530. Approximately 8,061,316 shares changed hands during trading, a decline of 32% from the average daily volume of 11,880,040 shares. The stock had previously closed at $132.26.

Analysts Set New Price Targets

A number of brokerages have recently commented on GLW. Bank of America reduced their target price on shares of Corning from $243.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings lowered Corning from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Truist Financial increased their price objective on Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday, October 2nd. Finally, The Goldman Sachs Group restated an "outperform" rating on shares of Corning in a report on Tuesday, September 15th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.25.

Corning Trading Up 2.2%

The stock has a market capitalization of $116.42 billion, a P/E ratio of 61.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $153.14 and a 200 day moving average price of $168.85.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm posted $0.60 EPS. Corning's revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Corning Incorporated will post 3.29 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning's payout ratio is 51.14%.

Insiders Place Their Bets

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLW. Western Pacific Wealth Management LP acquired a new position in Corning in the 3rd quarter valued at approximately $25,000. Atwood & Palmer Inc. acquired a new position in shares of Corning during the second quarter worth $26,000. Rogco LP acquired a new stake in Corning during the second quarter worth approximately $27,000. Toth Financial Advisory Corp boosted its stake in shares of Corning by 130.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker's stock worth $27,000 after buying an additional 98 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its holdings in Corning by 220.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 240 shares of the electronics maker's stock worth $37,000 after purchasing an additional 165 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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