Corning Incorporated (NYSE:GLW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Corning Incorporated (NYSE:GLW) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $66.75.

A number of equities analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Wolfe Research assumed coverage on shares of Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, Argus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th.

Corning Price Performance

Shares of GLW stock opened at $79.56 on Friday. Corning has a 1 year low of $37.31 and a 1 year high of $79.65. The firm’s 50 day moving average is $64.82 and its 200-day moving average is $53.27. The firm has a market capitalization of $68.15 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 1.72 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts forecast that Corning will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in GLW. Parkside Financial Bank & Trust lifted its position in Corning by 3.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock valued at $278,000 after acquiring an additional 158 shares in the last quarter. Groupe la Francaise lifted its position in Corning by 8.2% in the 2nd quarter. Groupe la Francaise now owns 2,284 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 173 shares in the last quarter. Empirical Finance LLC lifted its position in Corning by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock valued at $1,422,000 after acquiring an additional 184 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in Corning by 3.3% in the 2nd quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock valued at $302,000 after acquiring an additional 185 shares in the last quarter. Finally, Forte Capital LLC ADV lifted its position in Corning by 2.4% in the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after acquiring an additional 190 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

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.