Corning (NYSE:GLW) Hits New 1-Year High – Here’s Why

Corning Incorporated (NYSE:GLW) shares hit a new 52-week high on Monday . The stock traded as high as $241.52 and last traded at $240.8180, with a volume of 7891427 shares. The stock had previously closed at $221.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GLW shares. Mizuho upped their target price on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Barclays lifted their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Citigroup upped their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Oppenheimer raised their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Performance

The company’s fifty day simple moving average is $184.70 and its two-hundred day simple moving average is $142.10. The company has a market capitalization of $216.91 billion, a price-to-earnings ratio of 119.73, a price-to-earnings-growth ratio of 3.16 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.4%. Corning’s dividend payout ratio is currently 53.59%.

Insider Activity

In other Corning news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning during the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning during the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.