Sony Corporation (NYSE:SONY – Get Free Report) insider Toshimoto Mitomo sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $525,500.00. Following the transaction, the insider directly owned 115,700 shares in the company, valued at approximately $2,432,014. The trade was a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Sony Stock Up 1.1%
Sony stock opened at $21.39 on Wednesday. Sony Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $30.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The company has a market capitalization of $126.40 billion, a P/E ratio of -106.97, a PEG ratio of 1.68 and a beta of 0.94. The stock has a 50-day simple moving average of $21.12 and a 200-day simple moving average of $22.05.
Sony (NYSE:SONY – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The firm had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $32.86 EPS. Equities research analysts expect that Sony Corporation will post 1.28 earnings per share for the current year.
Institutional Trading of Sony
Sony News Roundup
Here are the key news stories impacting Sony this week:
- Negative Sentiment: Sony’s CEO Hiroki Totoki sold 225,000 shares, while insider Toshimoto Mitomo sold 25,000 shares, adding pressure to investor sentiment around the stock. Hiroki Totoki Sells 225,000 Shares of Sony (NYSE:SONY) Stock
- Negative Sentiment: Jermaine Dupri filed an $18 million lawsuit against Sony over alleged unpaid royalties, which could add legal and financial uncertainty for Sony’s music business. Jermaine Dupri Files $18 Million Breach of Contract Suit Against Sony Over Alleged Unpaid Royalties
- Negative Sentiment: Backlash continues over Sony’s reported plan to phase out physical PlayStation discs, which could hurt gamer goodwill and reinforce concerns about its gaming strategy. The backlash against Sony ditching PlayStation discs is not slowing down
- Neutral Sentiment: Sony is getting attention for new hardware products, including a leaked OLED TV and a Bravia TV review highlighting advanced display technology, but these are not major earnings drivers on their own. Sony has leaked its new OLED TV, and I’m excited and disappointed in equal measure
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Benchmark restated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Sanford C. Bernstein reiterated a “market perform” rating and set a $22.00 price target (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sony has an average rating of “Hold” and an average target price of $22.00.
Read Our Latest Stock Report on SONY
Sony Company Profile
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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