Sony Corp. (SNE) Shares Gap Up to $29.85
Sony Corp. (NYSE:SNE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $29.66, but opened at $29.85. Sony Corp. shares last traded at $30.22, with a volume of 341,340 shares changing hands.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Sony Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Vetr raised Sony Corp. from a “hold” rating to a “buy” rating and set a $28.90 price target for the company in a research note on Monday, April 25th. JPMorgan Chase & Co. cut Sony Corp. from an “overweight” rating to a “neutral” rating in a research note on Thursday, April 21st. Deutsche Bank AG raised Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Finally, TheStreet cut Sony Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $34.53.
The firm has a 50 day moving average of $29.22 and a 200-day moving average of $25.60. The company has a market capitalization of $38.11 billion and a PE ratio of 27.22.
Sony Corp. (NYSE:SNE) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.07. The firm earned $1,824.10 billion during the quarter, compared to the consensus estimate of $64.27 billion. During the same quarter last year, the company earned ($91.39) earnings per share. Equities research analysts predict that Sony Corp. will post $0.69 earnings per share for the current year.
Several hedge funds and institutional investors have made changes to their positions in the stock. Sabal Capital Management LLC acquired a new position in shares of Sony Corp. during the fourth quarter worth about $1,223,000. Airain ltd increased its position in shares of Sony Corp. by 83.5% in the fourth quarter. Airain ltd now owns 67,895 shares of the company’s stock worth $1,671,000 after buying an additional 30,890 shares in the last quarter. Comerica Bank increased its position in shares of Sony Corp. by 0.6% in the fourth quarter. Comerica Bank now owns 115,095 shares of the company’s stock worth $2,647,000 after buying an additional 681 shares in the last quarter. Zweig DiMenna Associates LLC increased its position in shares of Sony Corp. by 20.0% in the fourth quarter. Zweig DiMenna Associates LLC now owns 1,136,882 shares of the company’s stock worth $27,979,000 after buying an additional 189,616 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Sony Corp. by 0.6% in the fourth quarter. Morgan Stanley now owns 2,295,809 shares of the company’s stock worth $56,499,000 after buying an additional 13,044 shares in the last quarter.
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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