Corning (NYSE:GLW) Stock Price Down 2.6% – What’s Next?

Corning Incorporated (NYSE:GLW) was down 2.6% during mid-day trading on Friday . The company traded as low as $148.06 and last traded at $148.87. 6,104,414 shares were traded during trading, a decline of 52% from the average daily volume of 12,701,679 shares. The stock had previously closed at $152.80.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and lowered their target price for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Barclays dropped their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Citigroup dropped their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. reduced their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

The firm has a market cap of $128.24 billion, a PE ratio of 67.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $172.11 and a 200 day moving average price of $164.71.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 51.14%.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Several institutional investors and hedge funds have recently modified their holdings of GLW. Brighton Jones LLC lifted its stake in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning in the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Corning in the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning during the second quarter valued at $266,000. Hedge funds and other 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.