Recent Investment Analysts’ Ratings Updates for Corning (GLW)

A number of research firms have changed their ratings and price targets for Corning (NYSE: GLW):

• 10/31/2024 – Corning was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/30/2024 – Corning had its price target raised by analysts at JPMorgan Chase & Co. from $55.00 to $60.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Corning had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $58.00 price target on the stock, up previously from $51.00.
• 10/30/2024 – Corning had its price target raised by analysts at UBS Group AG from $46.00 to $51.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – Corning had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $49.00 to $54.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Corning had its price target raised by analysts at Barclays PLC from $40.00 to $53.00. They now have an “equal weight” rating on the stock.
• 10/9/2024 – Corning had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $46.00 to $49.00. They now have a “buy” rating on the stock.
• 9/20/2024 – Corning had its price target raised by analysts at Susquehanna from $46.00 to $55.00. They now have a “positive” rating on the stock.
• 9/20/2024 – Corning had its price target raised by analysts at Oppenheimer Holdings Inc. from $47.00 to $51.00. They now have an “outperform” rating on the stock.
• 9/20/2024 – Corning had its price target raised by analysts at Bank of America Co. from $46.00 to $51.00. They now have a “buy” rating on the stock.

Corning Stock Up 2.0 %

GLW opened at $48.24 on Thursday. Corning Incorporated has a 12 month low of $26.94 and a 12 month high of $51.03. The business has a 50-day moving average of $44.83 and a two-hundred day moving average of $40.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a market capitalization of $41.30 billion, a price-to-earnings ratio of 283.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, research analysts expect that Corning Incorporated will post 1.95 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is currently 658.82%.

Hedge Funds Weigh In On Corning

Hedge funds and other institutional investors have recently modified their holdings of the company. City Holding Co. lifted its position in Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after buying an additional 600 shares in the last quarter. Cassady Schiller Wealth Management LLC purchased a new position in shares of Corning in the 3rd quarter valued at $39,000. Global Trust Asset Management LLC lifted its holdings in shares of Corning by 2,250.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after acquiring an additional 900 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Corning by 90.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 994 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 473 shares during the period. Finally, ESL Trust Services LLC acquired a new stake in Corning in the 1st quarter valued at $33,000. 69.80% of the stock is owned by institutional investors and hedge funds.

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.