Corning Incorporated (NYSE:GLW) Given Average Recommendation of “Moderate Buy” by Brokerages

Corning Incorporated (NYSE:GLW) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $93.0909.

Several equities research analysts recently issued reports on GLW shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Monday, December 22nd. Oppenheimer set a $100.00 target price on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Susquehanna boosted their price target on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a report on Wednesday, October 29th. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st.

Corning Trading Down 0.1%

Shares of NYSE GLW opened at $89.58 on Friday. The business has a 50 day simple moving average of $86.31 and a 200 day simple moving average of $72.99. Corning has a 52 week low of $37.31 and a 52 week high of $96.64. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 1.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

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

Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Insider Activity

In related news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the sale, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,135 shares of company stock valued at $14,088,769 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of institutional investors have recently made changes to their positions in GLW. Capital Research Global Investors acquired a new stake in Corning in the 3rd quarter valued at approximately $907,164,000. Norges Bank bought a new stake in shares of Corning in the second quarter valued at approximately $534,936,000. WCM Investment Management LLC acquired a new stake in shares of Corning in the third quarter worth $676,931,000. Wellington Management Group LLP increased its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Finally, Voya Investment Management LLC increased its position in Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after acquiring an additional 2,795,948 shares during the period. 69.80% of the stock is currently owned by institutional investors.

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.