Corning (NYSE:GLW) Shares Climb 2.2% – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages recently commented on GLW. Oppenheimer decreased their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a report on Tuesday, September 8th. Bank of America decreased their target price on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Morgan Stanley cut their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.25.

Corning Stock Performance

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

Corning (NYSE:GLW) last posted 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 quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.29 EPS for the current fiscal year.

Corning Announces Dividend

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

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC grew its position in Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares in the last quarter. Ares Financial Consulting LLC boosted its position in Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 60 shares during the period. Signature Equity Partners LLC raised its position in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC lifted its stake in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 64 shares in the last quarter. Finally, Balefire LLC raised its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after buying an additional 65 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

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.