Sony (NYSE:SNE) Earns Conviction-Buy Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Sony (NYSE:SNE) in a research report report published on Wednesday morning, The Fly reports. The brokerage issued a conviction-buy rating on the stock.

A number of other research firms have also commented on SNE. Oppenheimer initiated coverage on shares of Sony in a research note on Friday, June 12th. They issued a buy rating and a $70.00 price objective on the stock. ValuEngine raised shares of Sony from a sell rating to a hold rating in a research report on Friday, May 15th. Finally, Macquarie downgraded Sony from an outperform rating to a neutral rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $81.00.

NYSE:SNE opened at $77.96 on Wednesday. The stock has a market cap of $97.51 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 4.38 and a beta of 1.08. The company has a current ratio of 0.92, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $72.74 and its 200-day moving average is $66.51. Sony has a 1-year low of $50.94 and a 1-year high of $78.76.

Sony (NYSE:SNE) last posted its earnings results on Wednesday, May 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Sony had a return on equity of 12.38% and a net margin of 7.05%. The business had revenue of $16.06 billion for the quarter, compared to analyst estimates of $17 billion. As a group, equities analysts forecast that Sony will post 3.07 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in Sony in the fourth quarter worth approximately $229,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Sony by 35.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,896 shares of the company’s stock valued at $1,212,000 after purchasing an additional 4,677 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sony by 141.5% during the fourth quarter. Geode Capital Management LLC now owns 97,483 shares of the company’s stock worth $6,628,000 after buying an additional 57,116 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Sony by 7.2% in the 4th quarter. 1832 Asset Management L.P. now owns 83,820 shares of the company’s stock valued at $5,701,000 after acquiring an additional 5,628 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sony by 230.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,400 shares of the company’s stock valued at $3,835,000 after purchasing an additional 39,325 shares in the last quarter. 7.66% of the stock is owned by hedge funds and other institutional investors.

Sony Company Profile

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.

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Analyst Recommendations for Sony (NYSE:SNE)

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