Corning (NYSE:GLW) Price Target Raised to $100.00

Corning (NYSE:GLW) had its target price raised by JPMorgan Chase & Co. from $85.00 to $100.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the electronics maker’s stock.

A number of other equities analysts have also recently issued reports on GLW. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday. Oppenheimer set a $100.00 price objective on shares of Corning and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley set a $82.00 price objective on shares of Corning in a research report on Wednesday. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.82.

Corning Stock Performance

Shares of Corning stock opened at $89.07 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $79.77 and a two-hundred day moving average price of $61.85. Corning has a 1-year low of $37.31 and a 1-year high of $92.57. The company has a market cap of $76.30 billion, a P/E ratio of 56.37, a PEG ratio of 1.99 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $0.54 EPS. The business’s 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, analysts anticipate that Corning will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 211,924 shares of company stock worth $16,841,489 in the last quarter. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Corning

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares during the last quarter. State Street Corp increased its stake in Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the last quarter. Geode Capital Management LLC increased its stake 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 valued at $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Norges Bank purchased a new stake in Corning in the 2nd quarter valued at about $534,936,000. 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.