Sony Corp. (NYSE:SNE) Receives $37.25 Average PT from Brokerages
Sony Corp. (NYSE:SNE) has been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $37.25.
Several equities analysts have recently commented on SNE shares. Zacks Investment Research upgraded shares of Sony Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a report on Wednesday, September 28th. Vetr upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating and set a $30.40 price target on the stock in a report on Tuesday, July 5th. Deutsche Bank AG upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 6th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Sony Corp. in a report on Thursday, June 30th. Finally, TheStreet upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th.
Shares of Sony Corp. (NYSE:SNE) opened at 32.53 on Friday. The stock has a market capitalization of $41.04 billion, a price-to-earnings ratio of 48.99 and a beta of 1.85. Sony Corp. has a 12 month low of $19.90 and a 12 month high of $34.17. The stock’s 50 day moving average price is $32.89 and its 200-day moving average price is $29.38.
Sony Corp. (NYSE:SNE) last posted its quarterly earnings results on Friday, July 29th. The company reported $16.44 EPS for the quarter, beating the consensus estimate of ($0.28) by $16.72. Sony Corp. had a net margin of 1.02% and a return on equity of 2.52%. The business had revenue of $1,613.20 billion for the quarter, compared to analysts’ expectations of $1,682.98 billion. During the same period in the previous year, the company posted $70.52 EPS. Sony Corp.’s revenue was down 10.8% on a year-over-year basis. Equities analysts forecast that Sony Corp. will post $0.63 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Sony Corp. by 51.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,413 shares of the company’s stock worth $100,000 after buying an additional 1,159 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Sony Corp. during the second quarter worth $127,000. Sei Investments Co. raised its position in Sony Corp. by 133.3% in the second quarter. Sei Investments Co. now owns 4,596 shares of the company’s stock worth $135,000 after buying an additional 2,626 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Sony Corp. during the second quarter worth $144,000. Finally, Advisor Group Inc. purchased a new position in Sony Corp. during the second quarter worth $184,000. 6.60% of the stock is owned by hedge funds and other institutional investors.
Sony Corp. Company Profile
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.
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