Corning (NYSE:GLW) Downgraded to Hold Rating by Wall Street Zen

Corning (NYSE:GLW) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also recently weighed in on GLW. Citigroup boosted their price target on Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Morgan Stanley set a $56.00 price target on Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Oppenheimer restated an “outperform” rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Argus restated a “buy” rating and issued a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. Finally, UBS Group upgraded Corning from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $84.00 in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.75.

Corning Trading Up 2.1%

Corning stock opened at $77.03 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $62.75 and its two-hundred day simple moving average is $52.48. Corning has a 12 month low of $37.31 and a 12 month high of $77.87. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of 81.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts predict that Corning will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, the chief operating officer owned 64,838 shares in the company, valued at $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,950 shares of company stock valued at $10,449,192. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after buying an additional 1,582,895 shares in the last quarter. State Street Corp boosted its stake in shares of Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after acquiring an additional 509,013 shares during the period. Geode Capital Management LLC boosted its stake in shares of Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after acquiring an additional 112,739 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the period. Finally, Norges Bank bought a new position in shares of Corning in the second quarter worth about $534,936,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Corning

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.