Corning (NYSE:GLW) Shares Down 1.3% – What’s Next?

Corning Incorporated (NYSE:GLW)’s share price was down 1.3% on Thursday . The stock traded as low as $183.80 and last traded at $198.24. Approximately 11,039,967 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 12,078,170 shares. The stock had previously closed at $200.76.

Analysts Set New Price Targets

Several analysts have recently weighed in on GLW shares. Citigroup boosted their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. UBS Group boosted their price target on Corning from $179.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HSBC restated a “buy” rating and issued a $135.00 price target on shares of Corning in a research report on Friday, February 13th. Mizuho upped their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Truist Financial upped their price objective on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Trading Down 1.3%

The company has a 50 day simple moving average of $171.25 and a 200 day simple moving average of $129.11. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $170.61 billion, a PE ratio of 94.85, a P/E/G ratio of 2.87 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 60,655 shares of company stock valued at $12,046,561. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of large investors have recently modified their holdings of GLW. Signature Equity Partners LLC lifted its position in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC lifted its position in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares during the period. Balefire LLC lifted its position in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after purchasing an additional 65 shares during the period. Millstone Evans Group LLC lifted its position in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after purchasing an additional 67 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after purchasing an additional 70 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Company Profile

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.