ValuEngine Upgrades Sony (SNE) to “Buy”

ValuEngine upgraded shares of Sony (NYSE:SNE) from a hold rating to a buy rating in a report issued on Saturday.

A number of other equities analysts have also recently commented on SNE. Zacks Investment Research cut Sony from a buy rating to a hold rating in a report on Monday, October 30th. JPMorgan Chase & Co. cut Sony from an overweight rating to a neutral rating in a report on Tuesday, January 23rd. Jefferies Group reiterated a buy rating and set a $45.74 price target on shares of Sony in a report on Tuesday, October 24th. Finally, Morgan Stanley cut Sony from an overweight rating to an equal weight rating in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $48.19.

Sony (NYSE:SNE) opened at $49.00 on Friday. Sony has a 1-year low of $30.70 and a 1-year high of $53.91. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $59,810.00, a PE ratio of 26.92 and a beta of 1.55.

Sony (NYSE:SNE) last posted its quarterly earnings results on Friday, February 2nd. The company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.74. Sony had a return on equity of 15.44% and a net margin of 6.29%. The business had revenue of $2,672.32 billion during the quarter, compared to analysts’ expectations of $2,560.40 billion. During the same quarter last year, the company posted $15.55 earnings per share. Sony’s quarterly revenue was up 11.5% on a year-over-year basis. analysts forecast that Sony will post 2.92 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Sony during the fourth quarter worth approximately $88,068,000. Bank of New York Mellon Corp boosted its holdings in shares of Sony by 68.9% during the third quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock worth $51,505,000 after acquiring an additional 562,627 shares during the period. Minneapolis Portfolio Management Group LLC boosted its holdings in shares of Sony by 0.4% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 1,215,399 shares of the company’s stock worth $45,383,000 after acquiring an additional 4,278 shares during the period. Northern Trust Corp boosted its holdings in shares of Sony by 0.3% during the second quarter. Northern Trust Corp now owns 1,114,925 shares of the company’s stock worth $42,579,000 after acquiring an additional 3,463 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Sony by 256.4% during the third quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock worth $37,772,000 after acquiring an additional 732,847 shares during the period. Institutional investors own 6.80% of the company’s stock.

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Sony Company Profile

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Semiconductors, Component, Films, Music, Financial Services and All Other.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sony (NYSE:SNE)

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