Corning Incorporated (NYSE:GLW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Corning Incorporated (NYSE:GLW) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $174.87.

A number of research firms have commented on GLW. Truist Financial lifted their target price on shares of Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho lowered their price target on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Barclays dropped their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. Finally, Sanford C. Bernstein assumed coverage on Corning in a research report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price objective for the company.

Insider Activity

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

Institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after acquiring an additional 4,845,027 shares during the period. Bank of America Corp DE grew its position in shares of Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Wellington Management Group LLP increased its stake in shares of Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Corning in the 2nd quarter worth $1,510,911,000. Finally, Capital Research Global Investors raised its holdings in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $158.92 on Tuesday. The company’s 50-day simple moving average is $153.42 and its two-hundred day simple moving average is $167.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a market capitalization of $136.89 billion, a P/E ratio of 72.56, a P/E/G ratio of 2.09 and a beta of 1.13. Corning has a 52-week low of $77.39 and a 52-week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts predict that Corning will post 3.28 EPS for the current year.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.