Sony Group (NYSE:SONY) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Sony Group (NYSE:SONY) from a hold rating to a buy rating in a report released on Wednesday.

Several other brokerages also recently weighed in on SONY. Macquarie downgraded Sony Group from an outperform rating to a neutral rating in a research report on Thursday, February 15th. Oppenheimer reaffirmed an outperform rating and set a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. Wolfe Research initiated coverage on Sony Group in a research note on Tuesday, December 12th. They issued an outperform rating on the stock. Finally, TheStreet raised Sony Group from a c+ rating to a b- rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $108.00.

Sony Group Stock Down 0.9 %

Shares of NYSE SONY opened at $85.74 on Wednesday. The firm has a market cap of $105.82 billion, a PE ratio of 16.55 and a beta of 0.98. The company has a 50 day simple moving average of $90.87 and a 200 day simple moving average of $88.88. 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 1 year low of $79.62 and a 1 year high of $100.94.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $24.31 billion. On average, research analysts forecast that Sony Group will post 5.19 EPS for the current year.

Hedge Funds Weigh In On Sony Group

A number of hedge funds have recently bought and sold shares of the business. Cetera Advisor Networks LLC increased its holdings in shares of Sony Group by 31.8% in the first quarter. Cetera Advisor Networks LLC now owns 4,306 shares of the company’s stock valued at $442,000 after purchasing an additional 1,039 shares during the last quarter. BlackRock Inc. lifted its holdings in Sony Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 1,510,796 shares of the company’s stock worth $155,174,000 after buying an additional 11,272 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Sony Group by 4.5% during the first quarter. Cibc World Market Inc. now owns 28,862 shares of the company’s stock worth $2,964,000 after purchasing an additional 1,237 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Sony Group by 12.8% during the first quarter. Cetera Investment Advisers now owns 6,265 shares of the company’s stock worth $643,000 after purchasing an additional 711 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Sony Group by 46.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,494 shares of the company’s stock valued at $564,000 after acquiring an additional 1,736 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

About Sony Group

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.