Corning (NYSE:GLW) Shares Gap Down – Here’s Why

Corning Incorporated (NYSE:GLW) gapped down before the market opened on Wednesday . The stock had previously closed at $255.43, but opened at $239.50. Corning shares last traded at $229.7160, with a volume of 4,143,718 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. Bank of America raised their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. UBS Group upped their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Truist Financial increased their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Finally, Mizuho boosted their price objective on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $186.46.

Corning Stock Down 13.4%

The stock has a market capitalization of $190.37 billion, a price-to-earnings ratio of 105.57, a PEG ratio of 3.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The business has a fifty day moving average of $188.32 and a 200 day moving average of $144.39.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Transactions at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the fourth quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the fourth quarter worth $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.