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

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

SONY has been the topic of several other reports. Macquarie cut 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 target price on shares of Sony Group in a report on Monday, February 26th. Wolfe Research assumed coverage on shares of Sony Group in a research report on Tuesday, December 12th. They issued an outperform rating on the stock. Finally, TheStreet raised shares of Sony Group from a c+ rating to a b- rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $108.00.

Sony Group Trading Down 0.2 %

Sony Group stock opened at $86.54 on Wednesday. Sony Group has a one year low of $79.62 and a one year high of $100.94. The business’s fifty day moving average is $91.38 and its 200 day moving average is $88.90. The stock has a market capitalization of $106.81 billion, a PE ratio of 16.71 and a beta of 0.98. 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 (NYSE:SONY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The company had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. On average, sell-side analysts predict 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 modified their holdings of SONY. Harding Loevner LP increased its stake in Sony Group by 2,206.6% in the 4th quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after buying an additional 2,181,169 shares in the last quarter. BlackRock Inc. grew its position in shares of Sony Group by 76.5% during the first quarter. BlackRock Inc. now owns 2,649,244 shares of the company’s stock worth $240,154,000 after purchasing an additional 1,148,165 shares in the last quarter. Bank of America Corp DE raised its stake in Sony Group by 27.2% during the 1st quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock valued at $402,598,000 after purchasing an additional 949,271 shares during the period. Sculptor Capital LP purchased a new position in Sony Group in the 1st quarter worth approximately $47,356,000. Finally, Fisher Asset Management LLC boosted its stake in Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after purchasing an additional 342,025 shares during the period. 14.05% of the stock is currently owned by institutional investors.

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.