Sony (NYSE:SONY) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Sony (NYSE:SONY – Free Report) from a hold rating to a strong-buy rating in a report issued on Saturday,Wall Street Zen reports.

SONY has been the subject of several other reports. Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 30th. Weiss Ratings upgraded Sony from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, November 9th. Sanford C. Bernstein reiterated a “market perform” rating and set a $26.00 price objective on shares of Sony in a research note on Thursday, November 5th. Finally, Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.00.

Read Our Latest Stock Analysis on Sony

Sony Trading Up 1.6%

SONY stock traded up $0.43 during midday trading on Friday, reaching $27.09. 4,248,373 shares of the company’s stock traded hands, compared to its average volume of 4,888,937. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 0.96. Sony has a fifty-two week low of $19.32 and a fifty-two week high of $30.33. The business has a 50-day moving average price of $24.69 and a two-hundred day moving average price of $22.48. The company has a market capitalization of $160.08 billion, a P/E ratio of 21.68, a PEG ratio of 1.63 and a beta of 0.98.

Sony (NYSE:SONY – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.11. Sony had a negative net margin of 1.54% and a positive return on equity of 14.20%. The company had revenue of $21.77 billion during the quarter, compared to analyst estimates of $20.15 billion. During the same quarter in the prior year, the business earned $60.10 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Sony will post 1.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kenji Tanaka sold 20,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.83, for a total value of $476,600.00. Following the completion of the transaction, the insider owned 43,899 shares in the company, valued at $1,046,113.17. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Sony

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SONY. Physician Wealth Advisors Inc. boosted its holdings in Sony by 29.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,811 shares of the company’s stock valued at $43,000 after purchasing an additional 414 shares during the period. Diversified Trust Co grew its position in Sony by 4.1% in the 3rd quarter. Diversified Trust Co now owns 10,756 shares of the company’s stock worth $253,000 after purchasing an additional 425 shares during the last quarter. Wedmont Private Capital grew its position in Sony by 3.2% in the 3rd quarter. Wedmont Private Capital now owns 13,630 shares of the company’s stock worth $326,000 after purchasing an additional 427 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Sony by 8.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,272 shares of the company’s stock worth $126,000 after purchasing an additional 481 shares during the last quarter. Finally, 71 West Capital Partners increased its holdings in shares of Sony by 4.5% during the 3rd quarter. 71 West Capital Partners now owns 11,754 shares of the company’s stock worth $277,000 after purchasing an additional 509 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony News Roundup

These are some of the SONY news items that stood out recently:

About Sony

(Get Free Report)

Sony Group Corporation is a Japan-based global entertainment and technology company, founded in Tokyo in 1946 by Masaru Ibuka and Akio Morita. Initially known as Tokyo Tsushin Kogyo, the company adopted the name Sony in 1958. Sony’s businesses include video games and network services through PlayStation; music recording and publishing; film and television production and distribution; consumer electronics, including televisions and cameras; and imaging and sensing technologies, including image sensors.

Further Reading

Analyst Recommendations for Sony (NYSE:SONY)

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