Corning (NYSE:GLW) Stock Price Down 1% – What’s Next?

Corning Incorporated (NYSE:GLW)’s share price dropped 1% during trading on Friday . The company traded as low as $148.05 and last traded at $149.91. Approximately 6,132,608 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 12,852,668 shares. The stock had previously closed at $151.45.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Bank of America lifted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Finally, Oppenheimer lowered their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Trading Down 1.0%

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 stock has a 50-day simple moving average of $175.43 and a two-hundred day simple moving average of $163.44. The firm has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for 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%.The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio is 51.14%.

Insider Transactions at Corning

In other Corning 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 transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $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 the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently modified their holdings of GLW. Continuum Advisory LLC bought a new position in shares of Corning during the second quarter valued at approximately $347,000. Alamar Capital Management LLC bought a new position in Corning in the second quarter worth approximately $204,000. Nykredit A S bought a new position in Corning in the second quarter worth approximately $88,603,000. B. Metzler seel. Sohn & Co. AG lifted its holdings in Corning by 0.8% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 26,397 shares of the electronics maker’s stock worth $6,743,000 after buying an additional 210 shares during the period. Finally, MBA Advisors LLC purchased a new stake in Corning during the second quarter worth $221,000. 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.