Corning (NYSE:GLW) Shares Gap Up – What’s Next?

Corning Incorporated (NYSE:GLW)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $177.58, but opened at $192.90. Corning shares last traded at $187.0990, with a volume of 2,983,738 shares traded.

Analyst Ratings Changes

GLW has been the subject of a number of research analyst reports. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial lifted their price target on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. HSBC restated a “buy” rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Finally, Bank of America lifted their price target on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Corning Price Performance

The company has a 50 day moving average of $173.00 and a 200-day moving average of $130.61. The stock has a market capitalization of $162.95 billion, a P/E ratio of 90.73, a PEG ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,655 shares of company stock valued at $12,046,561 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC grew its holdings in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its holdings in Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after acquiring an additional 12,297 shares during the last quarter. Security National Bank boosted its holdings in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC bought a new position in Corning in the fourth quarter valued at about $1,750,000. Finally, Natixis Advisors LLC boosted its holdings in Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after acquiring an additional 116,583 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.