China Renaissance Initiates Coverage on Corning (NYSE:GLW)

Equities researchers at China Renaissance assumed coverage on shares of Corning (NYSE:GLW) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $238.00 price target on the electronics maker’s stock. China Renaissance’s target price suggests a potential upside of 54.32% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Oppenheimer decreased their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and cut their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $178.64.

Corning Stock Down 0.1%

GLW opened at $154.22 on Tuesday. The company has a fifty day moving average of $162.71 and a two-hundred day moving average of $165.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning has a fifty-two week low of $70.06 and a fifty-two week high of $271.78. The stock has a market capitalization of $132.84 billion, a price-to-earnings ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16.

Corning (NYSE:GLW) last announced its quarterly earnings results 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 analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Lewis Steverson sold 13,100 shares of Corning 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 of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter worth $26,000. Atwood & Palmer Inc. purchased a new stake in shares of Corning in the 2nd quarter valued at $26,000. Rogco LP acquired a new position in Corning during the 2nd quarter worth about $27,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Corning during the 4th quarter valued at about $27,000. 69.80% of the stock is owned by institutional investors and hedge funds.

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.