Corning (NYSE:GLW) Stock Price Down 4.7% - Should You Sell?

Key Points

• Corning shares fell 4.7% to about $131.93, trading below both their 50-day and 200-day moving averages. The stock has a market capitalization of $113.64 billion and trades at a P/E ratio of 60.24.
• Analyst sentiment remains favorable but mixed: 13 analysts rate Corning a Buy and seven rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $177.56.
• Corning recently beat quarterly expectations, reporting $0.78 in EPS and $4.74 billion in revenue, while guiding for third-quarter EPS of $0.85–$0.89. It also declared a quarterly dividend of $0.28 per share, representing a 0.8% yield.

Corning Incorporated (NYSE:GLW - Get Free Report) shares traded down 4.7% during trading on Friday. The company traded as low as $131.63 and last traded at $131.9260. Approximately 7,690,698 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 11,957,389 shares. The stock had previously closed at $138.43.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. UBS Group lifted their target price on Corning from $196.00 to $201.00 and gave the stock a "buy" rating in a report on Monday, October 5th. China Renaissance upgraded shares of Corning from a "hold" rating to a "buy" rating and set a $238.00 price objective for the company in a research note on Tuesday, September 8th. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.56.

Corning Trading Down 4.7%

The firm has a 50-day moving average of $154.85 and a two-hundred day moving average of $168.92. The firm has a market capitalization of $113.64 billion, a P/E ratio of 60.24, a P/E/G ratio of 1.80 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.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current year.

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company's stock, valued at $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Corning

A number of hedge funds have recently made changes to their positions in the stock. Herbst Group LLC bought a new position in shares of Corning during the 2nd quarter worth about $4,474,000. Principal Financial Group Inc. increased its holdings in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock valued at $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Silverlake Wealth Management LLC acquired a new position in Corning during the second quarter worth $1,872,000. Finally, Atlas Wealth LLC grew its holdings in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker's stock valued at $1,642,000 after buying an additional 6,998 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Company Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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