Sony Corp Ord (SNE) Receives Average Rating of “Buy” from Analysts
Sony Corp Ord (NYSE:SNE) has received a consensus rating of “Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $43.42.
SNE has been the topic of several recent research reports. Zacks Investment Research upgraded Sony Corp Ord from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $45.74 price target on shares of Sony Corp Ord in a report on Thursday, August 3rd. Citigroup Inc. downgraded Sony Corp Ord from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.60 to $39.93 in a report on Monday, September 11th. BidaskClub downgraded Sony Corp Ord from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Morgan Stanley downgraded Sony Corp Ord from an “overweight” rating to an “equal” rating in a report on Wednesday.
Shares of Sony Corp Ord (NYSE SNE) traded down 0.27% during midday trading on Wednesday, reaching $36.61. The company had a trading volume of 256,038 shares. Sony Corp Ord has a 52 week low of $27.72 and a 52 week high of $41.65. The company’s 50 day moving average price is $38.23 and its 200-day moving average price is $37.15. The company has a market capitalization of $46.30 billion, a P/E ratio of 0.64 and a beta of 1.75.
Sony Corp Ord (NYSE:SNE) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.08. Sony Corp Ord had a return on equity of 4.17% and a net margin of 1.67%. The company had revenue of $1,858.10 billion for the quarter, compared to the consensus estimate of $1,735.86 billion. During the same quarter in the prior year, the business earned $16.44 EPS. Sony Corp Ord’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts predict that Sony Corp Ord will post $2.21 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in SNE. Bank of America Corp DE boosted its position in shares of Sony Corp Ord by 28.8% during the 1st quarter. Bank of America Corp DE now owns 3,200,092 shares of the company’s stock worth $107,939,000 after acquiring an additional 715,316 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Sony Corp Ord by 56.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,770,826 shares of the company’s stock worth $67,628,000 after acquiring an additional 636,926 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Sony Corp Ord by 105.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 816,725 shares of the company’s stock worth $31,191,000 after acquiring an additional 419,493 shares in the last quarter. Conatus Capital Management LP acquired a new position in shares of Sony Corp Ord during the 2nd quarter worth about $13,837,000. Finally, Credit Suisse AG acquired a new position in shares of Sony Corp Ord during the 1st quarter worth about $6,978,000. 6.54% of the stock is owned by institutional investors and hedge funds.
About Sony Corp Ord
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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