Sony Corp. (SNE) Given Average Rating of “Buy” by Brokerages
Sony Corp. (NYSE:SNE) has been assigned an average recommendation of “Buy” from the nine brokerages that are covering the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $37.25.
A number of research firms recently issued reports on SNE. Vetr raised Sony Corp. from a “sell” rating to a “buy” rating and set a $35.49 target price on the stock in a research report on Tuesday, September 6th. Zacks Investment Research raised Sony Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, September 28th. TheStreet raised Sony Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Sony Corp. in a research report on Thursday, June 30th. Finally, Deutsche Bank AG raised Sony Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th.
A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Sony Corp. by 22.1% in the second quarter. BNP Paribas Arbitrage SA now owns 18,787 shares of the company’s stock worth $551,000 after buying an additional 3,405 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Sony Corp. by 0.5% in the first quarter. LPL Financial LLC now owns 59,199 shares of the company’s stock worth $1,521,000 after buying an additional 282 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Sony Corp. during the first quarter worth about $427,000. Renaissance Technologies LLC boosted its stake in shares of Sony Corp. by 3.0% in the first quarter. Renaissance Technologies LLC now owns 1,973,900 shares of the company’s stock worth $50,769,000 after buying an additional 58,300 shares in the last quarter. Finally, HBK Investments L P boosted its stake in shares of Sony Corp. by 241.0% in the first quarter. HBK Investments L P now owns 341,301 shares of the company’s stock worth $8,778,000 after buying an additional 241,201 shares in the last quarter. Institutional investors and hedge funds own 6.60% of the company’s stock.
Shares of Sony Corp. (NYSE:SNE) opened at 32.78 on Friday. The company has a market cap of $41.35 billion, a P/E ratio of 50.59 and a beta of 1.85. The company’s 50-day moving average price is $32.89 and its 200 day moving average price is $29.50. Sony Corp. has a 52 week low of $19.90 and a 52 week high of $34.17.
Sony Corp. (NYSE:SNE) last released its quarterly earnings results on Friday, July 29th. The company reported $16.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $16.72. Sony Corp. had a return on equity of 2.52% and a net margin of 1.02%. The firm had revenue of $1,613.20 billion for the quarter, compared to the consensus estimate of $1,682.98 billion. During the same quarter last year, the business posted $70.52 EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities analysts forecast that Sony Corp. will post $0.63 EPS for the current fiscal year.
About Sony Corp.
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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