Corning (NYSE:GLW) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Corning (NYSE:GLW) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Corning from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Wednesday. China Renaissance upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday, September 8th. UBS Group reduced their price target on shares of Corning from $201.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America lowered their price target on shares of Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein assumed coverage on shares of Corning in a research note on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $175.81.

Corning Stock Down 1.8%

GLW opened at $128.87 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.24 and a current ratio of 1.72. The company has a market cap of $111.01 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 1.62 and a beta of 1.13. Corning has a one year low of $77.39 and a one year high of $271.78. The business’s fifty day moving average is $148.45 and its two-hundred day moving average is $154.79.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Corning had a return on equity of 20.83% and a net margin of 12.13%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. Analysts anticipate that Corning will post 3.36 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio (DPR) is currently 45.34%.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GLW. Western Pacific Wealth Management LP acquired a new position in shares of Corning in the 3rd quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Corning during the 3rd quarter worth approximately $25,000. Atwood & Palmer Inc. acquired a new stake in Corning during the 2nd quarter worth approximately $26,000. Rogco LP acquired a new stake in Corning during the 2nd quarter worth approximately $27,000. Finally, Toth Financial Advisory Corp raised its holdings in Corning by 130.7% in the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported better-than-expected quarterly results, with revenue rising 18.9% year over year to approximately $5.1 billion and EPS of $0.91 versus the $0.88 consensus. Gross margin expanded to 40.5% and operating margin reached 22.7%, highlighting substantial profit leverage. Corning Stock Price Up Following Better-Than-Expected Earnings
• Positive Sentiment: Demand for optical communications products is accelerating as artificial-intelligence data centers require greater fiber and connectivity capacity. Optical Communications revenue reportedly increased 44%, while customer-backed capacity expansion and the shift from copper to optical connections could support further growth. Corning Q3 Sales Jump as AI Optical Demand Accelerates
• Positive Sentiment: Truist Financial reaffirmed its Buy rating, maintaining a $175 price target despite lowering it from $182. The firm’s stance indicates it still sees meaningful upside if Corning converts AI-driven demand into sustained sales and margin growth. Truist Reaffirms Buy Rating
• Neutral Sentiment: Morgan Stanley completed its review of Corning’s production expansion but said any valuation improvement depends on stronger profit margins. The firm retains an Equal Weight rating, reflecting a balance between growth potential and execution risk. Morgan Stanley Report on Corning Production Expansion
• Negative Sentiment: Morgan Stanley lowered its price target from $165 to $155, citing limited near-term valuation upside. A separate fair-value estimate also declined from $189.94 to $182.76, underscoring investor concerns that the stock’s high earnings multiple already prices in much of the AI opportunity. Morgan Stanley Lowers Corning Price Target
• Negative Sentiment: Corning has experienced significant recent weakness after retreating from its highs, and ETFs were reported as net sellers. The pullback may improve entry points, but valuation, execution and margin sustainability remain important risks for investors. ETFs Are Net Sellers of Corning

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.