Sony Corp. (SNE) Sees Strong Trading Volume
Sony Corp. (NYSE:SNE) saw unusually-strong trading volume on Monday . Approximately 1,257,601 shares were traded during trading, a decline of 5% from the previous session’s volume of 1,326,583 shares.The stock last traded at $31.22 and had previously closed at $30.59.
Several equities research analysts have recently commented on SNE shares. TheStreet raised Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, April 6th. Vetr raised Sony Corp. from a “buy” rating to a “strong-buy” rating and set a $28.86 target price on the stock in a research note on Thursday, April 7th. Zacks Investment Research lowered Sony Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. Jefferies Group reaffirmed a “buy” rating on shares of Sony Corp. in a research note on Friday, June 10th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Sony Corp. in a research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $34.29.
The firm’s 50-day moving average is $28.52 and its 200 day moving average is $25.14. The firm has a market capitalization of $39.36 billion and a P/E ratio of 26.85.
Sony Corp. (NYSE:SNE) last announced its quarterly earnings results on Thursday, April 28th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.58) by $0.07. The business had revenue of $1,824.10 billion for the quarter, compared to the consensus estimate of $64.27 billion. During the same quarter in the prior year, the firm earned ($91.39) EPS. Analysts anticipate that Sony Corp. will post $0.68 earnings per share for the current fiscal year.
Other large investors have recently made changes to their positions in the company. Zweig DiMenna Associates LLC raised its stake in shares of Sony Corp. by 20.0% in the fourth quarter. Zweig DiMenna Associates LLC now owns 1,136,882 shares of the company’s stock valued at $27,979,000 after buying an additional 189,616 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Sony Corp. by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 247,264 shares of the company’s stock worth $6,086,000 after buying an additional 13,699 shares in the last quarter. Sabal Capital Management LLC bought a new position in Sony Corp. during the fourth quarter worth approximately $1,223,000. Comerica Bank raised its position in Sony Corp. by 0.6% in the fourth quarter. Comerica Bank now owns 115,095 shares of the company’s stock worth $2,647,000 after buying an additional 681 shares in the last quarter. Finally, Morgan Stanley raised its position in Sony Corp. by 0.6% in the fourth quarter. Morgan Stanley now owns 2,295,809 shares of the company’s stock worth $56,499,000 after buying an additional 13,044 shares in the last quarter.
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, Devices, Pictures, Music, Financial Services and All Other.
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