Sony Corp (NYSE:SNE) – Stock analysts at Jefferies Group lifted their FY2019 earnings per share (EPS) estimates for shares of Sony in a report issued on Wednesday. Jefferies Group analyst A. Goyal now forecasts that the company will earn $3.32 per share for the year, up from their prior forecast of $3.30. Jefferies Group has a “Buy” rating and a $59.84 price objective on the stock. Jefferies Group also issued estimates for Sony’s FY2020 earnings at $3.80 EPS.

SNE has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Credit Suisse Group downgraded shares of Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Morgan Stanley downgraded shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Finally, Citigroup downgraded shares of Sony from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.60 to $39.93 in a report on Monday, September 11th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Sony presently has an average rating of “Buy” and a consensus target price of $46.94.

Shares of Sony (SNE) traded down $0.20 during midday trading on Thursday, hitting $44.45. 517,948 shares of the company traded hands, compared to its average volume of 855,488. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.71. Sony has a 12-month low of $27.91 and a 12-month high of $48.33. The firm has a market capitalization of $56,392.55, a PE ratio of 25.07 and a beta of 1.78.

Several hedge funds and other institutional investors have recently bought and sold shares of SNE. Ameriprise Financial Inc. lifted its position in shares of Sony by 256.4% during the third quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock worth $37,772,000 after purchasing an additional 732,847 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Sony by 56.2% in the second quarter. Renaissance Technologies LLC now owns 1,770,826 shares of the company’s stock valued at $67,628,000 after acquiring an additional 636,926 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Sony by 68.9% in the third quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock valued at $51,505,000 after acquiring an additional 562,627 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Sony in the third quarter valued at $16,993,000. Finally, Conatus Capital Management LP acquired a new stake in Sony in the second quarter valued at $13,837,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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About Sony

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.

Earnings History and Estimates for Sony (NYSE:SNE)

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