Corning (GLW) Stock Price, News & Analysis

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 1 sell rating, 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" GLW shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GLW, but not buy additional shares or sell existing shares.
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9 brokers have issued 12 month target prices for Corning's shares. Their GLW share price targets range from $29.00 to $40.00. On average, they anticipate the company's share price to reach $34.78 in the next twelve months. This suggests a possible upside of 10.9% from the stock's current price.
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Corning's stock was trading at $30.45 at the beginning of 2024. Since then, GLW shares have increased by 3.0% and is now trading at $31.35.
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Corning saw a increase in short interest in April. As of April 15th, there was short interest totaling 12,100,000 shares, an increase of 5.0% from the March 31st total of 11,520,000 shares. Based on an average daily volume of 4,710,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.6% of the shares of the stock are sold short.
View Corning's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 30th 2024.
View our GLW earnings forecast.

Corning will be holding an earnings conference call on Tuesday, April 30th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Corning Incorporated (NYSE:GLW) released its quarterly earnings results on Tuesday, January, 30th. The electronics maker reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The electronics maker earned $2.99 billion during the quarter, compared to analysts' expectations of $3.26 billion. Corning had a trailing twelve-month return on equity of 12.31% and a net margin of 4.62%. The business's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share.
Read the conference call transcript.

Corning announced a quarterly dividend on Wednesday, February 7th. Investors of record on Thursday, February 29th will be given a dividend of $0.28 per share on Thursday, March 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Wednesday, February 28th.
Read our dividend analysis for GLW.

Corning (NYSE:GLW) pays an annual dividend of $1.12 per share and currently has a dividend yield of 3.55%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 167.16%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, GLW will have a dividend payout ratio of 51.85% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

ETFs with the largest weight of Corning (NYSE:GLW) stock in their portfolio include ProShares S&P Kensho Cleantech ETF (CTEX), ProShares S&P Technology Dividend Aristocrats ETF (TDV), Federated Hermes U.S. Strategic Dividend ETF (FDV), SPDR S&P Kensho Clean Power ETF (CNRG), Madison Covered Call ETF (CVRD), Invesco Zacks Mid-Cap ETF (CZA), First Trust S&P 500 Diversified Dividend Aristocrats ETF (RNDV) and ALPS Sector Dividend Dogs ETF (SDOG).

Corning issued an update on its first quarter 2024 earnings guidance on Tuesday, January, 30th. The company provided EPS guidance of 0.320-0.380 for the period, compared to the consensus EPS estimate of 0.380. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.2 billion.

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).

Corning's stock is owned by a number of retail and institutional investors. Top institutional investors include Bank of New York Mellon Corp (0.83%), Assenagon Asset Management S.A. (0.32%), Sumitomo Mitsui Trust Holdings Inc. (0.25%), Raymond James & Associates (0.19%), Wealth Enhancement Advisory Services LLC (0.14%) and Randolph Co Inc (0.09%). Insiders that own company stock include Anne Mullins, Cheryl C Capps, Cheryl C Capps, Clark S Kinlin, David L Morse, David L Morse, Eric S Musser, John P Bayne Jr, John Z Zhang, Lawrence D Mcrae, Lawrence D Mcrae, Lewis A Steverson, Li Fang, Martin J Curran, Michael Alan Bell, Robert P France, Robert P France, Roger W Jr Ferguson, Stefan Becker, Thomas Peterffy, Wendell P Weeks and Wendell P Weeks.
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Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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