Zacks Investment Research downgraded shares of Sony (NYSE:SNE) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Sony has an outstanding earnings surprise history, having generated three consecutive, massive beats in the trailing four quarters. Sony’s shares have also outpaced the industry in the past six months, and the company is enjoying bullish analyst sentiment as well. Robust sales of its flagship gaming product, PlayStation, have provided a boost to the top line over the past few quarters. Also, the spectacular performance of the company’s Music business has proved to be a solid profit churner. On the flipside, decline in smartphone sales and sustained weakness in semiconductors market might thwart the company’s growth. Also, increase in price of key components, stiff competition in multiple product lines as well as negative effect from foreign currency translations are likely to remain major headwinds.”

Other research analysts have also issued research reports about the stock. Jefferies Group restated a buy rating and set a $85.29 price target on shares of Sony in a research note on Monday, April 16th. ValuEngine lowered shares of Sony from a buy rating to a hold rating in a research note on Saturday, June 2nd. Finally, UBS Group lowered shares of Sony from a buy rating to a neutral rating in a research note on Monday, May 7th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sony has an average rating of Hold and an average target price of $59.07.

SNE stock opened at $49.96 on Wednesday. Sony has a 12-month low of $36.25 and a 12-month high of $53.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $63.03 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.58 and a beta of 1.35.

Sony (NYSE:SNE) last announced its quarterly earnings results on Friday, April 27th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.22). Sony had a return on equity of 13.27% and a net margin of 5.68%. The business had revenue of $1,951 billion for the quarter, compared to analyst estimates of $1,993.05 billion. During the same quarter last year, the company earned $21.90 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts expect that Sony will post 3.86 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SNE. Bank of Montreal Can grew its stake in Sony by 89.6% in the 4th quarter. Bank of Montreal Can now owns 59,181 shares of the company’s stock valued at $2,660,000 after buying an additional 27,974 shares during the last quarter. US Bancorp DE grew its stake in Sony by 28.0% in the 4th quarter. US Bancorp DE now owns 297,046 shares of the company’s stock valued at $13,353,000 after buying an additional 65,009 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Sony in the 4th quarter valued at $207,000. Ballentine Partners LLC grew its stake in Sony by 20.6% in the 4th quarter. Ballentine Partners LLC now owns 6,872 shares of the company’s stock valued at $308,000 after buying an additional 1,172 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in Sony in the 4th quarter valued at $203,000. Institutional investors own 6.90% of the company’s stock.

Sony Company Profile

Sony Corporation designs, develops, manufactures, and sells electronic equipment, instruments, and devices for consumer, professional, and industrial markets worldwide. It offers LCD televisions, optical pickups, mobile phones, tablets, audio equipment and video conference systems, batteries, broadcast and professional-use video equipment, and DVD-players/recorders; and Blu-ray Disc players and recorders, ROMs, CDs, DVDs, and UMDs.

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Analyst Recommendations for Sony (NYSE:SNE)

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