Corning (NYSE:GLW) Stock Rating Lowered by Wall Street Zen

Corning (NYSE:GLW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also recently commented on the stock. Barclays cut their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. UBS Group reiterated a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their target price for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

GLW opened at $147.45 on Monday. The firm has a market cap of $127.01 billion, a PE ratio of 67.33, a P/E/G ratio of 1.86 and a beta of 1.14. The stock has a 50-day moving average price of $173.41 and a 200-day moving average price of $164.22. Corning has a 1 year low of $66.14 and a 1 year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts predict that Corning will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corning

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in Corning by 26,791.0% in the 2nd quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker’s stock worth $78,868,773,000 after buying an additional 307,620,415 shares during the period. Norges Bank bought a new stake in Corning during the 4th quarter valued at approximately $921,435,000. Bank of New York Mellon Corp purchased a new position in Corning in the 2nd quarter worth approximately $1,510,911,000. Capital Research Global Investors grew its holdings in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Corning during the second quarter valued at approximately $1,212,283,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.