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

Shares of Corning Incorporated (NYSE:GLW) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $91.6364.

Several brokerages have issued reports on GLW. Morgan Stanley set a $82.00 target price on Corning in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Susquehanna lifted their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th.

Corning Stock Up 0.9%

Shares of Corning stock opened at $83.68 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The stock has a market cap of $71.75 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 1.81 and a beta of 1.11. The firm’s 50-day moving average is $84.54 and its two-hundred day moving average is $68.22. Corning has a 1 year low of $37.31 and a 1 year high of $92.57.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is currently 70.89%.

Insider Activity

In other Corning news, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the sale, the insider owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 173,856 shares of company stock worth $15,456,476. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Corning

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after buying an additional 750,530 shares during the last quarter. State Street Corp lifted its holdings in Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after acquiring an additional 439,883 shares during the period. Geode Capital Management LLC boosted its position in Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after purchasing an additional 112,739 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Company Profile

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.