Sony Corp. (SNE) Shares Gap Up to $32.30
Sony Corp. (NYSE:SNE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $32.05, but opened at $32.30. Sony Corp. shares last traded at $32.94, with a volume of 529,038 shares.
SNE has been the subject of several analyst reports. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Sony Corp. in a research report on Tuesday, April 19th. Vetr upgraded Sony Corp. from a “hold” rating to a “buy” rating and set a $28.90 target price for the company in a research report on Monday, April 25th. Zacks Investment Research upgraded Sony Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. BNP Paribas upgraded Sony Corp. from a “reduce” rating to a “hold” rating in a research report on Tuesday, June 7th. Finally, Bank of America Corp. restated a “buy” rating and issued a $38.26 target price on shares of Sony Corp. in a research report on Monday, May 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.21.
The company has a market cap of $41.44 billion and a P/E ratio of 49.47. The stock’s 50-day moving average is $30.36 and its 200-day moving average is $26.31.
Sony Corp. (NYSE:SNE) last posted its quarterly earnings results on Friday, July 29th. The company reported $16.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $16.72. During the same period last year, the company earned $70.52 EPS. The business earned $1,613.20 billion during the quarter, compared to analyst estimates of $1,682.98 billion. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Equities analysts forecast that Sony Corp. will post $0.61 EPS for the current fiscal year.
A hedge fund recently raised its stake in Sony Corp. stock. Airain ltd boosted its stake in Sony Corp. (NYSE:SNE) by 83.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,895 shares of the company’s stock after buying an additional 30,890 shares during the period. Airain ltd’s holdings in Sony Corp. were worth $1,671,000 as of its most recent SEC filing.
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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