Corning Stock: Strong Performance Amid Market Variability
New York-based Corning Incorporated (GLW) operates across a diverse range of sectors, including display technologies, optical communications, environmental technologies, specialty materials, and life sciences. With a market capitalization of $38.3 billion, Corning employs over 56,000 people globally, with operations in the Americas, Asia, Europe, and Africa.
Stock Performance Overview
Over the past year, GLW has shown robust performance, significantly outpacing the broader market. Its stock has increased by 34.2% in the past 52 weeks, although it has experienced a 5.6% decline year-to-date (YTD) in 2025. In contrast, the S&P 500 Index ($SPX) has gained 8.6% over the last year but faced a 4.3% drop in 2025.
Comparison with Sector Performance
When focusing on sector performance, Corning has outperformed the Technology Select Sector SPDR Fund’s (XLK) 5.7% gains in the past year, although it has also faced a 7.2% decline YTD.
Recent Q1 Results
Following the release of impressive Q1 results on April 29, Corning’s stock saw a minor uptick. The firm reported net sales rising 16% year-over-year (YoY) to $3.5 billion. Non-GAAP core sales grew by 12.9% YoY to $3.7 billion, comfortably exceeding Wall Street’s expectations by 3.9%. Additionally, the company experienced significant margin expansion, resulting in a 41.5% YoY increase in non-GAAP core net income, reaching $467 million. The non-GAAP core EPS of $0.54 surpassed analyst consensus estimates by 8%, further boosting investor confidence.
Future Growth Projections
Looking ahead to fiscal 2025, which ends in December, analysts predict a solid 19.4% YoY growth in non-GAAP core EPS, projecting a figure of $2.34. Corning has demonstrated a strong earnings surprise track record, exceeding bottom-line estimates for the past four quarters.
Analyst Ratings and Price Targets
The consensus rating for GLW is a “Strong Buy,” with 11 analysts covering the stock, consisting of eight “Strong Buys” and three “Holds.” This rating is slightly more optimistic compared to three months ago, when it held a “Moderate Buy” consensus.
On April 30, analyst Martin Yang from Oppenheimer reaffirmed an “Outperform” rating for GLW but adjusted the price target down from $58 to $55. GLW’s average price target of $54.42 suggests a potential upside of 21.3% from current levels, while the highest target of $68 indicates an impressive 51.6% upside opportunity.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For further details, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.
