Bank of America Issues Positive Forecast for Corning (NYSE:GLW) Stock Price

Corning (NYSE:GLW) had its price target lifted by Bank of America from $155.00 to $186.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

A number of other equities analysts have also issued reports on GLW. Oppenheimer set a $120.00 target price on shares of Corning in a research report on Thursday, January 29th. Truist Financial initiated coverage on shares of Corning in a research report on Tuesday, March 31st. They set a “hold” rating and a $125.00 target price on the stock. HSBC reiterated a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Barclays set a $100.00 target price on shares of Corning in a research report on Thursday, January 29th. Finally, Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.08.

Corning Price Performance

Shares of GLW stock opened at $165.19 on Monday. Corning has a 1 year low of $40.16 and a 1 year high of $176.75. The firm’s 50 day moving average is $143.38 and its 200-day moving average is $108.75. The firm has a market capitalization of $141.90 billion, a price-to-earnings ratio of 89.78, a PEG ratio of 2.55 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the business earned $0.57 earnings per share. Corning’s quarterly revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts forecast that Corning will post 3.14 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, February 27th. Corning’s dividend payout ratio is currently 60.87%.

Insiders Place Their Bets

In related news, SVP Li Fang sold 9,797 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edward A. Schlesinger sold 21,104 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the completion of the sale, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 over the last three months. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently bought and sold shares of the company. KRS Capital Management LLC raised its holdings in Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the period. Sheets Smith Wealth Management raised its holdings in Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after purchasing an additional 90 shares during the period. Beese Fulmer Investment Management Inc. raised its holdings in Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after purchasing an additional 92 shares during the period. 3Chopt Investment Partners LLC raised its holdings in Corning by 1.0% in the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after purchasing an additional 97 shares during the period. Finally, Patten & Patten Inc. TN raised its holdings in Corning by 0.6% in the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after purchasing an additional 100 shares during the period. 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.