Sony Corp. (SNE) Shares Gap Up to $32.37
Sony Corp. (NYSE:SNE) shares gapped up prior to trading on Thursday . The stock had previously closed at $32.11, but opened at $32.37. Sony Corp. shares last traded at $33.08, with a volume of 631,438 shares trading hands.
Several research analysts recently weighed in on SNE shares. Vetr downgraded shares of Sony Corp. from a “strong-buy” rating to a “buy” rating and set a $31.42 target price for the company. in a research note on Monday, June 6th. Bank of America Corp. reissued a “buy” rating and issued a $38.26 target price on shares of Sony Corp. in a research note on Monday, May 23rd. Deutsche Bank AG raised shares of Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Sony Corp. in a research note on Thursday, June 30th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Sony Corp. in a research note on Friday, June 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sony Corp. currently has a consensus rating of “Buy” and an average price target of $32.21.
The stock has a 50 day moving average price of $31.34 and a 200-day moving average price of $26.88. The firm has a market capitalization of $41.28 billion and a PE ratio of 49.28.
Sony Corp. (NYSE:SNE) last released its earnings results on Friday, July 29th. The company reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $16.72. The firm had revenue of $1,613.20 billion for the quarter, compared to analyst estimates of $1,682.98 billion. During the same period in the previous year, the firm earned $70.52 earnings per share. Sony Corp.’s revenue was down 10.8% on a year-over-year basis. On average, analysts expect that Sony Corp. will post $0.61 earnings per share for the current year.
A hedge fund recently raised its stake in Sony Corp. stock. Airain ltd boosted its position in Sony Corp. (NYSE:SNE) by 83.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting 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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