Zacks Research Research Analysts Decrease Earnings Estimates for Corning Incorporated (NYSE:GLW)

Corning Incorporated (NYSE:GLW) – Equities research analysts at Zacks Research cut their FY2026 EPS estimates for shares of Corning in a report released on Monday, April 8th. Zacks Research analyst R. Department now forecasts that the electronics maker will post earnings of $2.29 per share for the year, down from their previous estimate of $2.31. The consensus estimate for Corning’s current full-year earnings is $1.86 per share.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com upgraded shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. UBS Group boosted their target price on shares of Corning from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Susquehanna reiterated a “positive” rating and set a $40.00 target price on shares of Corning in a research note on Monday, April 1st. Finally, Barclays upped their target price on shares of Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.56.

Corning Stock Up 1.0 %

Corning stock opened at $32.27 on Wednesday. Corning has a fifty-two week low of $25.26 and a fifty-two week high of $36.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.67. The firm has a 50 day moving average price of $32.41 and a 200 day moving average price of $30.36. The company has a market capitalization of $27.60 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Corning had a net margin of 4.62% and a return on equity of 12.31%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis.

Institutional Trading of Corning

Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Corning during the fourth quarter valued at approximately $247,721,000. Price T Rowe Associates Inc. MD raised its stake in Corning by 74.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,681,332 shares of the electronics maker’s stock worth $306,278,000 after purchasing an additional 3,694,339 shares during the period. Morgan Stanley raised its stake in Corning by 26.5% during the fourth quarter. Morgan Stanley now owns 13,734,071 shares of the electronics maker’s stock worth $438,666,000 after purchasing an additional 2,875,197 shares during the period. Wellington Management Group LLP raised its stake in Corning by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 31,312,779 shares of the electronics maker’s stock worth $953,474,000 after purchasing an additional 2,597,878 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Corning by 15.0% during the third quarter. Ameriprise Financial Inc. now owns 17,615,078 shares of the electronics maker’s stock worth $536,114,000 after purchasing an additional 2,301,745 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $33.24, for a total value of $2,574,903.36. Following the sale, the insider now directly owns 215,254 shares in the company, valued at $7,155,042.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is currently owned by company insiders.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 3.47%. Corning’s payout ratio is currently 167.16%.

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.