Sony Corporation (NYSE:SONY) Given Average Rating of “Hold” by Brokerages

Sony Corporation (NYSE:SONY) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.00.

A number of equities research analysts have issued reports on SONY shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Benchmark reiterated a “buy” rating on shares of Sony in a research note on Monday, May 11th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $22.00 target price (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th.

Sony Trading Down 0.4%

NYSE:SONY traded down $0.07 during trading hours on Friday, reaching $20.86. 4,625,402 shares of the stock were exchanged, compared to its average volume of 4,968,140. Sony has a twelve month low of $19.32 and a twelve month high of $30.34. The business has a 50-day moving average of $21.19 and a two-hundred day moving average of $21.98. The company has a market capitalization of $123.21 billion, a price-to-earnings ratio of -104.27, a PEG ratio of 1.66 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10.

Sony (NYSE:SONY) last posted its earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13). The firm had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.Sony’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $32.86 EPS. On average, equities analysts predict that Sony will post 1.28 EPS for the current year.

Insider Transactions at Sony

In related news, insider Toshimoto Mitomo sold 25,000 shares of the business’s stock in a transaction on Friday, July 3rd. The shares were sold at an average price of $21.02, for a total transaction of $525,500.00. Following the completion of the transaction, the insider owned 115,700 shares in the company, valued at approximately $2,432,014. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hiroki Totoki sold 225,000 shares of the company’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $4,729,500.00. Following the transaction, the chief executive officer directly owned 173,250 shares of the company’s stock, valued at approximately $3,641,715. This represents a 56.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 771,838 shares of company stock valued at $16,866,580 over the last quarter. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Sony

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SONY. Fisher Asset Management LLC lifted its position in shares of Sony by 4.1% during the 4th quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company’s stock worth $2,789,929,000 after buying an additional 4,337,062 shares during the last quarter. Bank of America Corp DE lifted its position in Sony by 9.1% in the first quarter. Bank of America Corp DE now owns 16,992,579 shares of the company’s stock valued at $351,746,000 after acquiring an additional 1,413,785 shares during the last quarter. Capital International Investors boosted its stake in Sony by 23.1% in the fourth quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock valued at $191,534,000 after acquiring an additional 1,397,271 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Sony by 10.7% during the fourth quarter. Royal Bank of Canada now owns 6,778,922 shares of the company’s stock worth $173,539,000 after purchasing an additional 657,655 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Sony by 1.5% in the 4th quarter. Capital World Investors now owns 5,076,516 shares of the company’s stock valued at $129,973,000 after purchasing an additional 74,768 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony received a lift from product and business expansion news, including approval to launch a Sony stablecoin and conditional approval for a U.S.-based stablecoin trust bank, which could support longer-term financial services growth. Sony Approved to Launch Sony Stablecoin
• Positive Sentiment: Sony also introduced the RX10 V bridge camera, with AI autofocus, 4K 120fps video and improved battery life, showing continued strength in premium imaging and electronics. Sony revives the RX10 with AI autofocus, 4K 120fps, and a longer-lasting battery
• Positive Sentiment: Sony Classics secured distribution rights to the Javier Bardem and Penélope Cruz thriller Bunker, a modestly positive reminder of Sony’s content pipeline. Javier Bardem & Penélope Cruz Thriller ‘Bunker’ Sells To Sony Classics

Sony Company Profile

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.