Sony Group (NYSE:SONY) Upgraded to “Buy” by StockNews.com

by · The Cerbat Gem

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

Separately, Daiwa America upgraded Sony Group to a strong-buy rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $22.30.

Read Our Latest Report on Sony Group

Sony Group Trading Up 0.6 %

SONY opened at $18.98 on Wednesday. The company has a market cap of $117.13 billion, a P/E ratio of 17.64 and a beta of 0.94. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $29.20 and its 200-day moving average is $21.22. Sony Group has a 1-year low of $15.02 and a 1-year high of $20.18.

Sony Group (NYSE:SONY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Equities research analysts predict that Sony Group will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SONY. Creative Planning lifted its stake in shares of Sony Group by 6.6% in the 3rd quarter. Creative Planning now owns 303,295 shares of the company’s stock valued at $29,289,000 after purchasing an additional 18,659 shares during the period. Delta Capital Management LLC increased its holdings in Sony Group by 400.0% in the third quarter. Delta Capital Management LLC now owns 162,925 shares of the company’s stock worth $15,734,000 after purchasing an additional 130,340 shares in the last quarter. Cardinal Capital Management Inc. lifted its stake in Sony Group by 1.5% in the third quarter. Cardinal Capital Management Inc. now owns 318,901 shares of the company’s stock valued at $30,796,000 after buying an additional 4,765 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Sony Group by 38.3% during the 3rd quarter. Ritholtz Wealth Management now owns 34,357 shares of the company’s stock worth $3,318,000 after buying an additional 9,517 shares in the last quarter. Finally, Meyer Handelman Co. acquired a new stake in shares of Sony Group during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds 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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