Corning (NYSE:GLW) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Corning (NYSE:GLW) from a hold rating to a buy rating in a research report released on Saturday.

Several other equities research analysts also recently commented on the stock. UBS Group set a $243.00 target price on shares of Corning in a research report on Monday, July 6th. Oppenheimer raised their price target on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Susquehanna boosted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Citigroup raised their target price on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Price Performance

Shares of GLW opened at $154.47 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $132.94 billion, a PE ratio of 73.91, a PEG ratio of 2.03 and a beta of 1.09. Corning has a 12-month low of $53.29 and a 12-month high of $271.78. The business has a 50-day simple moving average of $192.81 and a two-hundred day simple moving average of $152.85.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’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. Analysts anticipate that Corning will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of large investors have recently bought and sold shares of GLW. Brighton Jones LLC grew its stake in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new position in Corning during the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new position in Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new position in Corning in the second quarter worth approximately $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.