Corning (NYSE:GLW) Stock Price Down 4.5% – What’s Next?

Corning Incorporated (NYSE:GLW) fell 4.5% during mid-day trading on Thursday . The stock traded as low as $77.49 and last traded at $78.0350. 7,831,378 shares changed hands during trading, an increase of 24% from the average session volume of 6,313,140 shares. The stock had previously closed at $81.69.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of recent analyst reports. Morgan Stanley set a $82.00 price target on shares of Corning in a research note on Wednesday, October 29th. Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Wednesday. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Barclays lifted their target price on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.82.

Corning Trading Down 4.5%

The business has a fifty day moving average price of $83.88 and a 200-day moving average price of $65.88. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The company has a market cap of $66.90 billion, a P/E ratio of 49.39, a PEG ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is presently 70.89%.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 in the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of large investors have recently added to or reduced their stakes in GLW. First Affirmative Financial Network bought a new position in Corning during the 3rd quarter worth $276,000. Sunbelt Securities Inc. grew its holdings in shares of Corning by 13.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 11,012 shares of the electronics maker’s stock worth $903,000 after purchasing an additional 1,314 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Corning by 35.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 29,636 shares of the electronics maker’s stock worth $2,431,000 after purchasing an additional 7,796 shares in the last quarter. Danske Bank A S bought a new position in shares of Corning in the third quarter worth $33,637,000. Finally, Stance Capital LLC acquired a new position in Corning in the third quarter valued at about $48,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.