Sony Corp. (SNE) Shares Gap Up to $30.27
Sony Corp. (NYSE:SNE) gapped up prior to trading on Wednesday . The stock had previously closed at $30.21, but opened at $30.27. Sony Corp. shares last traded at $30.50, with a volume of 240,899 shares trading hands.
Several equities research analysts have commented on SNE shares. TheStreet upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, April 6th. Vetr upgraded shares of Sony Corp. from a “buy” rating to a “strong-buy” rating and set a $28.86 price target on the stock in a research note on Thursday, April 7th. Zacks Investment Research lowered shares of Sony Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. Jefferies Group restated a “buy” rating on shares of Sony Corp. in a research note on Friday, June 10th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Sony Corp. in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.53.
The stock has a 50-day moving average of $29.00 and a 200-day moving average of $25.42. The firm has a market cap of $38.50 billion and a PE ratio of 27.03.
Sony Corp. (NYSE:SNE) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by $0.07. The firm had revenue of $1,824.10 billion for the quarter, compared to the consensus estimate of $64.27 billion. During the same period in the previous year, the business earned ($91.39) EPS. Equities research analysts forecast that Sony Corp. will post $0.69 EPS for the current year.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Airain ltd boosted its position in Sony Corp. by 83.5% in the fourth quarter. Airain ltd now owns 67,895 shares of the company’s stock valued at $1,671,000 after buying an additional 30,890 shares during the period. Zweig DiMenna Associates LLC boosted its position in 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 period. Sabal Capital Management LLC bought a new position in Sony Corp. during the fourth quarter valued at $1,223,000. Morgan Stanley boosted 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 valued at $56,499,000 after buying an additional 13,044 shares during the period. Finally, Comerica Bank boosted its position in Sony Corp. by 0.6% in the fourth quarter. Comerica Bank now owns 115,095 shares of the company’s stock valued at $2,647,000 after buying an additional 681 shares during the period.
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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