Sony (SNE) Lowered to Neutral at JPMorgan Chase & Co.

Sony (NYSE:SNE) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.

Other analysts have also issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and set a $45.74 target price on shares of Sony in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley lowered shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Finally, ValuEngine raised shares of Sony from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.19.

Shares of Sony (NYSE:SNE) traded down $0.38 during trading on Tuesday, hitting $50.42. 2,431,467 shares of the company were exchanged, compared to its average volume of 877,336. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $63,190.00, a price-to-earnings ratio of 27.86 and a beta of 1.80. Sony has a fifty-two week low of $29.16 and a fifty-two week high of $50.82.

Sony (NYSE:SNE) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.36. Sony had a net margin of 3.17% and a return on equity of 7.97%. equities analysts anticipate that Sony will post 2.88 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services Inc bought a new position in shares of Sony during the third quarter worth $215,000. OxFORD Asset Management LLP boosted its position in shares of Sony by 113.3% during the third quarter. OxFORD Asset Management LLP now owns 308,557 shares of the company’s stock worth $11,522,000 after purchasing an additional 163,905 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Sony by 6.3% during the third quarter. Stifel Financial Corp now owns 137,358 shares of the company’s stock worth $5,133,000 after purchasing an additional 8,197 shares in the last quarter. Athos Capital Ltd boosted its position in shares of Sony by 280.0% during the third quarter. Athos Capital Ltd now owns 34,200 shares of the company’s stock worth $2,937,000 after purchasing an additional 25,200 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Sony during the third quarter worth $1,650,000. 6.77% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Sony (SNE) Lowered to Neutral at JPMorgan Chase & Co.” was originally posted by American Market News and is the sole property of of American Market News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/23/sony-sne-lowered-to-neutral-at-jpmorgan-chase-co.html.

Sony 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.