Sony Corp. (SNE) Reaches New 12-Month High at $33.60
Shares of Sony Corp. (NYSE:SNE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.60 and last traded at $33.35, with a volume of 415,291 shares trading hands. The stock had previously closed at $33.12.
Several research firms recently issued reports on SNE. Vetr raised shares of Sony Corp. from a “hold” rating to a “buy” rating and set a $31.36 price target for the company in a research report on Wednesday, July 13th. Zacks Investment Research downgraded shares of Sony Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday, May 30th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Sony Corp. in a research report on Thursday, June 30th. Jefferies Group reissued a “buy” rating on shares of Sony Corp. in a research report on Friday, June 10th. Finally, Deutsche Bank AG raised shares of Sony Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.21.
The company has a market cap of $42.19 billion and a price-to-earnings ratio of 49.84. The firm’s 50-day moving average is $31.69 and its 200 day moving average is $27.20.
Sony Corp. (NYSE:SNE) last announced its earnings results on Friday, July 29th. The company reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $16.72. During the same quarter in the prior year, the company earned $70.52 EPS. The business had revenue of $1,613.20 billion for the quarter, compared to the consensus estimate of $1,682.98 billion. Sony Corp.’s revenue was down 10.8% compared to the same quarter last year. On average, equities analysts anticipate 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 raised its position in shares of Sony Corp. (NYSE:SNE) by 83.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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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