Sony Group Co. (NYSE:SONY) Given Average Recommendation of “Buy” by Analysts

by · The Markets Daily

Sony Group Co. (NYSE:SONY – Get Free Report) has received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.30.

Several analysts recently weighed in on SONY shares. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com upgraded shares of Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, TD Cowen decreased their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday.

Read Our Latest Stock Analysis on SONY

Sony Group Trading Up 0.6 %

Shares of Sony Group stock opened at $18.98 on Monday. The firm’s 50-day moving average price is $29.20 and its two-hundred day moving average price is $21.19. The company has a market capitalization of $117.13 billion, a price-to-earnings ratio of 17.64 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. 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 announced its quarterly earnings data 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. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. On average, analysts forecast that Sony Group will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. American National Bank lifted its stake in shares of Sony Group by 11.3% in the second 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 period. Whittier Trust Co. of Nevada Inc. boosted its position in Sony Group by 1.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after acquiring an additional 124 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Sony Group by 20.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock worth $64,000 after acquiring an additional 128 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Sony Group by 1.4% in the 2nd 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 period. Finally, Dynamic Advisor Solutions LLC grew its stake in Sony Group by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after purchasing an additional 140 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

About Sony Group

(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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