Oppenheimer Equities Analysts Reduce Earnings Estimates for Sony Group Co. (NYSE:SONY)

Sony Group Co. (NYSE:SONYGet Rating) – Equities research analysts at Oppenheimer cut their Q2 2023 earnings per share estimates for Sony Group in a research report issued to clients and investors on Tuesday, August 2nd. Oppenheimer analyst M. Yang now expects that the company will post earnings of $1.02 per share for the quarter, down from their prior forecast of $1.22. Oppenheimer currently has a “NA” rating and a $125.00 price target on the stock. The consensus estimate for Sony Group’s current full-year earnings is $5.63 per share. Oppenheimer also issued estimates for Sony Group’s Q4 2023 earnings at $1.09 EPS.

Sony Group (NYSE:SONYGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.05). The firm had revenue of $19.49 billion for the quarter, compared to the consensus estimate of $20.82 billion. Sony Group had a return on equity of 11.54% and a net margin of 8.91%.

Several other brokerages have also recently weighed in on SONY. TheStreet cut Sony Group from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Citigroup lowered Sony Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 5th. Finally, Macquarie upgraded shares of Sony Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sony Group has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

Sony Group Stock Performance

Shares of NYSE:SONY opened at $86.32 on Friday. The stock has a market capitalization of $105.32 billion, a P/E ratio of 14.18, a P/E/G ratio of 5.25 and a beta of 0.88. Sony Group has a 1-year low of $79.05 and a 1-year high of $133.75. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $85.75 and a two-hundred day moving average price of $94.09.

Hedge Funds Weigh In On Sony Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SONY. Theleme Partners LLP bought a new position in shares of Sony Group during the first quarter worth $69,098,000. AGF Investments Inc. lifted its position in Sony Group by 39.6% in the 1st quarter. AGF Investments Inc. now owns 1,535,680 shares of the company’s stock valued at $157,730,000 after acquiring an additional 435,542 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sony Group in the 1st quarter valued at $38,003,000. Aaron Wealth Advisors LLC lifted its position in Sony Group by 10,993.0% in the 1st quarter. Aaron Wealth Advisors LLC now owns 243,936 shares of the company’s stock valued at $2,375,000 after acquiring an additional 241,737 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Sony Group in the 4th quarter valued at $25,737,000.

Sony Group Company Profile

(Get Rating)

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 and portable game consoles, packaged software, and peripheral devices.

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Earnings History and Estimates for Sony Group (NYSE:SONY)

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