Sony Corp. (NYSE:SNE) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on SNE. Vetr upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating and set a $31.36 target price on the stock in a research note on Wednesday, July 13th. Zacks Investment Research upgraded shares of Sony Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Sony Corp. has a consensus rating of “Buy” and an average price target of $37.25.

Analyst Recommendations for Sony Corp. (NYSE:SNE)

Shares of Sony Corp. (NYSE:SNE) opened at 30.11 on Thursday. The stock’s 50 day moving average is $32.19 and its 200 day moving average is $30.32. Sony Corp. has a 52 week low of $19.90 and a 52 week high of $34.17. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 69.06 and a beta of 2.03.

Sony Corp. (NYSE:SNE) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.11. Sony Corp. had a net margin of 0.67% and a return on equity of 1.67%. The business had revenue of $1,688.90 billion for the quarter, compared to analyst estimates of $16.90 billion. During the same quarter in the previous year, the firm posted $26.10 earnings per share. Sony Corp.’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts forecast that Sony Corp. will post $0.52 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its position in Sony Corp. by 72.2% in the third quarter. Acrospire Investment Management LLC now owns 3,340 shares of the company’s stock valued at $111,000 after buying an additional 1,400 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 valued at $100,000 after buying an additional 1,159 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Sony Corp. during the second quarter valued at $127,000. Sei Investments Co. boosted 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 valued at $135,000 after buying an additional 2,626 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Sony Corp. during the second quarter valued at $144,000. 6.61% of the stock is owned by hedge funds and other institutional investors.

About Sony Corp.

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.

5 Day Chart for NYSE:SNE

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