Sony Corp. (SNE) Shares Gap Down to $32.46
Sony Corp. (NYSE:SNE) gapped down prior to trading on Wednesday . The stock had previously closed at $32.13, but opened at $32.46. Sony Corp. shares last traded at $33.17, with a volume of 549,406 shares traded.
A number of equities research analysts have issued reports on the stock. Vetr raised shares of Sony Corp. from a “hold” rating to a “buy” rating and set a $31.36 price target on the stock in a report on Wednesday, July 13th. Zacks Investment Research lowered shares of Sony Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, May 30th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Sony Corp. in a report on Thursday, June 30th. Jefferies Group reissued a “buy” rating on shares of Sony Corp. in a report on Friday, June 10th. Finally, Deutsche Bank AG raised shares of Sony Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sony Corp. currently has a consensus rating of “Buy” and a consensus target price of $33.58.
The stock’s 50-day moving average price is $32.72 and its 200 day moving average price is $28.67. The firm has a market capitalization of $42.17 billion, a P/E ratio of 50.96 and a beta of 1.85.
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Sony Corp. (NYSE:SNE) last issued its quarterly earnings data on Friday, July 29th. The company reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $16.72. Sony Corp. had a net margin of 1.02% and a return on equity of 2.52%. The business earned $1,613.20 billion during the quarter, compared to analysts’ expectations of $1,682.98 billion. During the same period last year, the company posted $70.52 EPS. The business’s revenue was down 10.8% on a year-over-year basis. Equities analysts anticipate that Sony Corp. will post $0.63 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sony Corp. by 51.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,413 shares of the company’s stock valued at $100,000 after buying an additional 1,159 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Sony Corp. by 5.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,090 shares of the company’s stock worth $105,000 after buying an additional 196 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Sony Corp. during the second quarter worth approximately $127,000. Sei Investments Co. boosted its position in shares of Sony Corp. by 133.3% in the second quarter. Sei Investments Co. now owns 4,596 shares of the company’s stock worth $135,000 after buying an additional 2,626 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Sony Corp. during the second quarter worth approximately $144,000. 6.60% of the stock is owned by hedge funds and other institutional investors.
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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