Corning (NYSE:GLW) Stock Price Up 3.7% – What’s Next?

Corning Incorporated (NYSE:GLW) rose 3.7% during trading on Monday . The company traded as high as $88.82 and last traded at $88.61. Approximately 6,723,364 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 6,270,949 shares. The stock had previously closed at $85.48.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GLW shares. Susquehanna raised their target price on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. UBS Group lifted their target price on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Oppenheimer set a $100.00 target price on shares of Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.82.

Corning Stock Performance

The firm’s fifty day moving average is $81.68 and its 200 day moving average is $63.71. The firm has a market capitalization of $75.97 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s payout ratio is 70.89%.

Insider Activity at Corning

In other news, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the sale, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently modified their holdings of the business. Strengthening Families & Communities LLC acquired a new stake in shares of Corning in the third quarter worth about $27,000. Cornerstone Planning Group LLC raised its stake in shares of Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in Corning by 111.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. RMG Wealth Management LLC boosted its position in Corning by 125.0% during the third quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 250 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of Corning in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

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.