Sony Corp. (SNE) Shares Gap Up to $31.89
Sony Corp. (NYSE:SNE) gapped up prior to trading on Tuesday . The stock had previously closed at $31.64, but opened at $31.89. Sony Corp. shares last traded at $32.50, with a volume of 455,858 shares changing hands.
Several research firms recently commented on SNE. TheStreet raised Sony Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Vetr raised Sony Corp. from a “buy” rating to a “strong-buy” rating and set a $31.42 target price for the company in a research note on Tuesday, May 31st. Zacks Investment Research raised Sony Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG raised Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Sony Corp. in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sony Corp. currently has a consensus rating of “Buy” and a consensus price target of $33.58.
The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 49.48 and a beta of 1.85. The company has a 50-day moving average of $32.70 and a 200-day moving average of $28.63.
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Sony Corp. (NYSE:SNE) last announced its quarterly earnings results on Friday, July 29th. The company reported $16.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $16.72. The business had revenue of $1,613.20 billion for the quarter, compared to analyst estimates of $1,682.98 billion. Sony Corp. had a return on equity of 2.52% and a net margin of 1.02%. The company’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $70.52 EPS. Equities research analysts predict that Sony Corp. will post $0.63 EPS for the current year.
Several large investors have recently made changes to their positions in SNE. Northwestern Mutual Wealth Management Co. raised its stake in Sony Corp. by 51.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,413 shares of the company’s stock worth $100,000 after buying an additional 1,159 shares during the last quarter. Fiera Capital Corp bought a new stake in Sony Corp. during the second quarter worth about $1,657,000. Marketfield Asset Management LLC bought a new stake in Sony Corp. during the second quarter worth about $13,315,000. Brinker Capital Inc. bought a new stake in Sony Corp. during the second quarter worth about $225,000. Finally, Conatus Capital Management LP bought a new stake in Sony Corp. during the second quarter worth about $10,381,000. 6.60% of the stock is currently owned by institutional investors and hedge funds.
Sony Corp. Company Profile
Sony Corporation (Sony) is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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