Corning (NYSE:GLW) Shares Down 1.2% – What’s Next?

by · The Cerbat Gem

Corning Incorporated (NYSE:GLW – Get Free Report)’s share price traded down 1.2% during trading on Monday . The stock traded as low as $80.22 and last traded at $81.0570. 7,241,614 shares were traded during trading, an increase of 15% from the average session volume of 6,307,690 shares. The stock had previously closed at $82.06.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLW. UBS Group lifted their price objective on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 target price on shares of Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 target price on shares of Corning in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.82.

Read Our Latest Analysis on Corning

Corning Price Performance

The firm’s 50-day moving average is $83.54 and its 200-day moving average is $65.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The company has a market capitalization of $69.50 billion, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.4%. Corning’s payout ratio is 70.89%.

Insider Buying and Selling at Corning

In other news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at $6,110,008.75. The trade was a 23.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,856 shares of company stock valued at $15,456,476 in the last ninety days. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

Large investors have recently added to or reduced their stakes in the company. CVA Family Office LLC raised its stake in Corning by 10.3% during the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock worth $98,000 after buying an additional 111 shares during the period. Angeles Wealth Management LLC grew its stake in Corning by 2.8% in the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock valued at $348,000 after acquiring an additional 116 shares during the period. Vista Investment Partners LLC increased its holdings in shares of Corning by 1.3% in the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after acquiring an additional 119 shares in the last quarter. Sapient Capital LLC raised its position in shares of Corning by 2.2% during the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Corning by 1.6% during the 3rd quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Company Profile

(Get Free Report)

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.

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