Corning (NYSE:GLW) Stock Price Down 4.6% – What’s Next?
by Jessica Moore · The Cerbat GemCorning Incorporated (NYSE:GLW – Get Free Report)’s stock price was down 4.6% during trading on Monday . The company traded as low as $165.52 and last traded at $167.7980. Approximately 11,686,151 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 11,098,132 shares. The stock had previously closed at $175.89.
Analyst Ratings Changes
A number of equities research analysts have commented on GLW shares. Oppenheimer set a $120.00 target price on shares of Corning in a research report on Thursday, January 29th. Mizuho set a $145.00 target price on shares of Corning in a research report on Monday, February 23rd. Wolfe Research set a $130.00 target price on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.08.
View Our Latest Stock Analysis on GLW
Corning Stock Performance
The business’s 50-day moving average price is $146.44 and its 200-day moving average price is $111.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. The stock has a market cap of $144.14 billion, a P/E ratio of 91.19, a P/E/G ratio of 2.52 and a beta of 1.06.
Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 3.15 earnings per share for the current fiscal year.
Corning Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is presently 60.87%.
Insider Buying and Selling
In related news, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the transaction, the insider owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This represents a 55.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Li Fang sold 9,797 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 in the last three months. Corporate insiders own 0.25% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of GLW. Brighton Jones LLC boosted its holdings in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Corning during the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new position in shares of Corning during the 2nd quarter valued at about $266,000. Institutional investors own 69.80% of the company’s stock.
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.