Corning (NYSE:GLW) Shares Down 1.2% – What’s Next?

Corning Incorporated (NYSE:GLW) shares traded down 1.2% during trading on Monday . The stock traded as low as $80.22 and last traded at $81.0570. 7,241,614 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 6,307,690 shares. The stock had previously closed at $82.06.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Susquehanna upped their target price on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Argus boosted their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays increased their price objective on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Morgan Stanley set a $82.00 target price on shares of Corning in a research note on Wednesday, October 29th. Finally, Mizuho set a $97.00 price target on shares of Corning in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.82.

Corning Price Performance

The stock’s 50-day moving average price is $83.70 and its 200 day moving average price is $65.68. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $70.08 billion, a price-to-earnings ratio of 51.73, a PEG ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. Corning’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,856 shares of company stock valued at $15,456,476 in the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the third quarter worth approximately $25,000. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Strengthening Families & Communities LLC purchased a new position in shares of Corning during the 3rd quarter worth $27,000. Total Investment Management Inc. acquired a new stake in shares of Corning during the 2nd quarter worth about $28,000. Finally, Cornerstone Planning Group LLC raised its holdings in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after buying an additional 124 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.