Corning (NYSE:GLW) Shares Down 1.3% on Analyst Downgrade

Corning Incorporated (NYSE:GLW)’s share price traded down 1.3% during mid-day trading on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. JPMorgan Chase & Co. now has a $175.00 price target on the stock, up from their previous price target of $115.00. Corning traded as low as $158.50 and last traded at $166.0290. 12,523,065 shares changed hands during trading, an increase of 11% from the average session volume of 11,331,179 shares. The stock had previously closed at $168.27.

Other analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Truist Financial assumed coverage on shares of Corning in a research note on Tuesday, March 31st. They issued a “hold” rating and a $125.00 target price on the stock. HSBC reiterated a “buy” rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Morgan Stanley raised their price target on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.69.

Insider Activity

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the transaction, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 233,201 shares of company stock worth $32,614,558. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several large investors have recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the fourth quarter valued at $26,000. Strengthening Families & Communities LLC bought a new position in Corning in the third quarter worth $27,000. Finally, Kemnay Advisory Services Inc. bought a new position in Corning in the fourth quarter worth $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $140.79 and its two-hundred day simple moving average is $106.82. The stock has a market cap of $142.62 billion, a price-to-earnings ratio of 90.23, a P/E/G ratio of 2.71 and a beta of 1.06.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s payout ratio is presently 60.87%.

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.