Sony Corp. (SNE) Shares Gap Up to $32.30
Sony Corp. (NYSE:SNE)’s share price gapped up prior to trading 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 changing hands.
Several equities research analysts have commented on the company. Jefferies Group restated a “buy” rating on shares of Sony Corp. in a research note on Friday, June 10th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Sony Corp. in a research note 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 note on Monday, April 18th. Bank of America Corp. reiterated a “buy” rating and issued a $38.26 target price on shares of Sony Corp. in a research note on Monday, May 23rd. Finally, BNP Paribas upgraded Sony Corp. from a “reduce” rating to a “hold” rating in a research note on Tuesday, June 7th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.21.
The company’s 50-day moving average price is $30.47 and its 200 day moving average price is $26.36. The firm has a market capitalization of $41.69 billion and a PE ratio of 49.77.
Sony Corp. (NYSE:SNE) last announced its earnings results on Friday, July 29th. The company reported $16.44 EPS for the quarter, topping the consensus estimate of ($0.28) by $16.72. The business earned $1,613.20 billion during 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. The firm’s revenue was down 10.8% compared to the same quarter last year. On average, 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 raised its stake in Sony Corp. (NYSE:SNE) by 83.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 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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