Sony Group (NYSE:SONY) Stock Rating Lowered by StockNews.com

Sony Group (NYSE:SONY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts have also recently weighed in on SONY. Wolfe Research began coverage on Sony Group in a research report on Tuesday, December 12th. They set an “outperform” rating for the company. Oppenheimer reiterated an “outperform” rating and set a $108.00 price target on shares of Sony Group in a research report on Monday, February 26th. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Stock Down 0.0 %

Sony Group stock traded down $0.03 during midday trading on Tuesday, reaching $89.00. The company’s stock had a trading volume of 637,963 shares, compared to its average volume of 861,043. The stock’s 50-day simple moving average is $92.69 and its 200-day simple moving average is $88.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. Sony Group has a 52-week low of $79.62 and a 52-week high of $100.94. The stock has a market capitalization of $109.85 billion, a P/E ratio of 17.18 and a beta of 0.98.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The company had revenue of $25.38 billion during the quarter, compared to analysts’ expectations of $24.31 billion. On average, sell-side analysts expect that Sony Group will post 5.19 EPS for the current year.

Institutional Investors Weigh In On Sony Group

Institutional investors and hedge funds have recently modified their holdings of the company. XY Capital Ltd acquired a new position in Sony Group during the 3rd quarter worth $876,000. Anchor Investment Management LLC purchased a new stake in Sony Group during the 4th quarter valued at approximately $272,000. DekaBank Deutsche Girozentrale purchased a new stake in Sony Group during the 3rd quarter valued at approximately $193,000. Morgan Stanley raised its stake in Sony Group by 0.4% during the 3rd quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after acquiring an additional 15,415 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Sony Group by 7.5% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 121,847 shares of the company’s stock valued at $10,041,000 after acquiring an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 8.02% of the company’s stock.

Sony Group Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.