Corning (NYSE:GLW) Shares Down 8.6% – Time to Sell?
by Kim Johansen · The Markets DailyCorning Incorporated (NYSE:GLW – Get Free Report)’s share price dropped 8.6% during trading on Friday . The stock traded as low as $122.38 and last traded at $123.21. Approximately 19,058,688 shares traded hands during trading, an increase of 75% from the average daily volume of 10,913,490 shares. The stock had previously closed at $134.74.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on GLW shares. Susquehanna raised their price objective on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Morgan Stanley lifted their price target on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Oppenheimer set a $120.00 price objective on Corning in a report on Thursday, January 29th. Barclays set a $100.00 target price on Corning in a research report on Thursday, January 29th. Finally, HSBC reissued a “buy” rating and set a $135.00 price target on shares of Corning in a research report on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.42.
Get Our Latest Research Report on Corning
Corning Price Performance
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 capitalization of $105.71 billion, a price-to-earnings ratio of 66.96, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. The business’s 50 day simple moving average is $112.83 and its 200-day simple moving average is $92.40.
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, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the company posted $0.57 EPS. The business’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. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.
Corning Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is currently 60.87%.
Insider Buying and Selling at Corning
In related news, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares in the company, valued at $5,727,249. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 233,201 shares of company stock valued at $32,614,558. Corporate insiders own 0.40% of the company’s stock.
Hedge Funds Weigh In On Corning
Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its holdings in shares of Corning by 0.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,647,264 shares of the electronics maker’s stock valued at $144,527,000 after buying an additional 8,654 shares in the last quarter. Bayban acquired a new stake in Corning during the 4th quarter worth about $52,000. Rehmann Capital Advisory Group boosted its position in Corning by 6.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,403 shares of the electronics maker’s stock worth $298,000 after acquiring an additional 195 shares during the period. SHP Wealth Management purchased a new position in Corning during the 4th quarter valued at about $109,000. Finally, Reflection Asset Management acquired a new position in shares of Corning in the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
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.