Corning (NYSE:GLW) Shares Gap Up – Should You Buy?

Corning Incorporated (NYSE:GLW) gapped up prior to trading on Thursday . The stock had previously closed at $184.03, but opened at $201.75. Corning shares last traded at $202.3740, with a volume of 2,721,137 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GLW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $193.54.

Corning Trading Up 7.4%

The firm has a fifty day simple moving average of $191.61 and a two-hundred day simple moving average of $148.94. The stock has a market cap of $170.07 billion, a PE ratio of 94.43, a PEG ratio of 2.43 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

The business also recently disclosed 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 0.6%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction dated 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 owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was 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 in the last three months. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Corning

A number of large investors have recently modified their holdings of the company. Atwood & Palmer Inc. purchased a new position in shares of Corning during the second quarter worth approximately $26,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Corning in the 4th quarter worth $26,000. MBM Wealth Consultants LLC purchased a new position in Corning in the 1st quarter worth $42,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter worth $27,000. 69.80% of the stock is 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.