StockNews.com Downgrades Sony Group (NYSE:SONY) to Hold

by · The Markets Daily

StockNews.com cut shares of Sony Group (NYSE:SONY – Free Report) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other brokerages have also recently issued reports on SONY. TD Cowen dropped their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sony Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.30.

Get Our Latest Stock Report on SONY

Sony Group Stock Performance

NYSE SONY opened at $18.22 on Thursday. The firm has a market cap of $22.49 billion, a P/E ratio of 3.35 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $29.39 and its 200-day moving average is $21.27. Sony Group has a 12-month low of $15.02 and a 12-month high of $20.18.

Sony Group (NYSE:SONY – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Sell-side analysts predict that Sony Group will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Sony Group

Institutional investors and hedge funds have recently made changes to their positions in the business. American National Bank increased its stake in Sony Group by 11.3% in the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Sony Group by 1.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after purchasing an additional 124 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Sony Group by 20.6% in the first quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock valued at $64,000 after purchasing an additional 128 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Sony Group by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after purchasing an additional 128 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in Sony Group by 1.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Company Profile

(Get Free Report)

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.

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