Corning (NYSE:GLW) Price Target Raised to $100.00

Corning (NYSE:GLW) had its price target raised by Susquehanna from $75.00 to $100.00 in a research note released on Wednesday morning, Marketbeat.com reports. They currently have a positive rating on the electronics maker’s stock.

A number of other brokerages have also commented on GLW. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Morgan Stanley lifted their target price on Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Wolfe Research started coverage on Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Finally, Barclays lifted their target price on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Stock Performance

Shares of Corning stock opened at $89.07 on Wednesday. The firm has a market cap of $76.30 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The stock’s 50-day moving average is $79.77 and its 200-day moving average is $61.85. Corning has a one year low of $37.31 and a one year high of $92.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities analysts predict that Corning will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is 70.89%.

Insiders Place Their Bets

In other Corning news, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 211,924 shares of company stock worth $16,841,489 in the last three months. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of institutional investors have recently bought and sold shares of the business. CVA Family Office LLC increased its position in Corning by 10.3% during the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock worth $98,000 after buying an additional 111 shares during the last quarter. Vista Investment Partners LLC boosted its holdings in shares of Corning by 1.3% during the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after acquiring an additional 119 shares during the period. Sapient Capital LLC boosted its holdings in shares of Corning by 2.2% during the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after acquiring an additional 120 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Corning by 1.6% during the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock worth $635,000 after acquiring an additional 124 shares during the period. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Corning by 0.7% during the third quarter. Fiduciary Alliance LLC now owns 18,474 shares of the electronics maker’s stock worth $1,515,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

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.