Sony Corporation (NYSE:SONY – Get Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $20.15, but opened at $21.51. Sony shares last traded at $21.4250, with a volume of 3,483,395 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages recently commented on SONY. Weiss Ratings downgraded shares of Sony from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Benchmark reissued a “buy” rating on shares of Sony in a research report on Monday. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $22.00 target price (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Finally, Zacks Research lowered shares of Sony from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Check Out Our Latest Stock Report on Sony
Sony Trading Up 6.0%
Sony (NYSE:SONY – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13). Sony had a positive return on equity of 13.59% and a negative net margin of 1.44%.The firm had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.43 billion. During the same period in the prior year, the firm posted $32.86 earnings per share. Sony’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Sony Corporation will post 1.34 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SONY. YANKCOM Partnership grew its stake in Sony by 748.7% during the 4th quarter. YANKCOM Partnership now owns 976 shares of the company’s stock valued at $25,000 after acquiring an additional 861 shares in the last quarter. Ameriflex Group Inc. grew its position in shares of Sony by 304.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the last quarter. Binnacle Investments Inc grew its position in shares of Sony by 81.7% in the 3rd quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after buying an additional 464 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Sony in the 4th quarter valued at $27,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Sony in the 4th quarter valued at $27,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.
About Sony
Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
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