Sony Group (NYSE:SONY) Rating Increased to Buy at StockNews.com

Sony Group (NYSE:SONY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

SONY has been the subject of a number of other research reports. Sanford C. Bernstein assumed coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Wolfe Research reissued a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. The Goldman Sachs Group assumed coverage on Sony Group in a report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Price Performance

Shares of NYSE SONY opened at $24.90 on Wednesday. The stock has a market capitalization of $150.59 billion, a PE ratio of 20.21, a P/E/G ratio of 9.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The business has a fifty day moving average price of $24.29 and a two-hundred day moving average price of $22.30. Sony Group has a fifty-two week low of $15.67 and a fifty-two week high of $26.08.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.09. The firm had revenue of $17.25 billion during the quarter, compared to analysts’ expectations of $2,995.71 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. As a group, equities analysts predict that Sony Group will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sony Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capital Investment Advisory Services LLC increased its holdings in Sony Group by 3.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 12,977 shares of the company’s stock worth $329,000 after purchasing an additional 392 shares in the last quarter. Stonegate Investment Group LLC increased its holdings in Sony Group by 2.6% in the 1st quarter. Stonegate Investment Group LLC now owns 16,898 shares of the company’s stock worth $429,000 after purchasing an additional 433 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Sony Group by 9.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,333 shares of the company’s stock worth $135,000 after purchasing an additional 442 shares in the last quarter. First Foundation Advisors increased its stake in shares of Sony Group by 3.4% in the first quarter. First Foundation Advisors now owns 14,543 shares of the company’s stock valued at $369,000 after buying an additional 478 shares during the period. Finally, Naviter Wealth LLC increased its stake in shares of Sony Group by 0.4% in the first quarter. Naviter Wealth LLC now owns 138,840 shares of the company’s stock valued at $3,483,000 after buying an additional 530 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

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.