Corning (NYSE:GLW) Rating Lowered to “Hold” at Zacks Research

Corning (NYSE:GLW) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Oppenheimer boosted their target price on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Wolfe Research set a $130.00 target price on Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Corning Trading Down 2.7%

NYSE:GLW opened at $190.97 on Tuesday. The firm has a market cap of $164.35 billion, a P/E ratio of 91.37, a PEG ratio of 2.81 and a beta of 1.14. 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’s 50 day simple moving average is $165.37 and its 200-day simple moving average is $125.52. Corning has a 12-month low of $48.88 and a 12-month high of $211.79.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning will post 3.19 EPS for the current year.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,655 shares of company stock valued at $12,046,561 in the last three months. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

A number of institutional investors have recently bought and sold shares of the company. Security Financial Services INC. purchased a new stake in Corning during the first quarter worth $222,000. Axiom Investment Management LLC purchased a new stake in Corning during the first quarter worth $1,846,000. Summitry LLC purchased a new stake in Corning during the first quarter worth $26,747,000. WNY Asset Management LLC purchased a new stake in Corning during the first quarter worth $407,000. Finally, Verus Capital Partners LLC purchased a new stake in Corning during the first quarter worth $299,000. 69.80% of the stock is currently 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.