Sony (NYSE:SONY) Issues Earnings Results

Sony (NYSE:SONYGet Free Report) posted its earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13), reports. Sony had a positive return on equity of 13.59% and a negative net margin of 1.44%.The company had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.43 billion. During the same period last year, the firm posted $32.86 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis.

Sony Stock Performance

Shares of Sony stock traded up $0.21 on Friday, hitting $20.10. 13,243,571 shares of the company’s stock were exchanged, compared to its average volume of 5,867,466. The company has a 50-day simple moving average of $21.00 and a 200-day simple moving average of $24.18. The stock has a market capitalization of $119.55 billion, a PE ratio of -100.47, a PEG ratio of 6.72 and a beta of 0.92. Sony has a 1 year low of $19.63 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new position in shares of Sony during the 4th quarter valued at $28,000. Binnacle Investments Inc lifted its stake in shares of Sony by 81.7% during the 3rd quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after buying an additional 464 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Sony during the 3rd quarter valued at $33,000. Triumph Capital Management lifted its stake in shares of Sony by 257.0% during the 4th quarter. Triumph Capital Management now owns 1,321 shares of the company’s stock valued at $34,000 after buying an additional 951 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Sony during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

SONY has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Zacks Research cut shares of Sony from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings cut shares of Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.

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Key Sony News

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About Sony

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Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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Earnings History for Sony (NYSE:SONY)

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