Bank of America Corp DE boosted its position in Sony Corp (NYSE:SNE) by 20.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,111,969 shares of the company’s stock after acquiring an additional 709,208 shares during the period. Bank of America Corp DE owned about 0.33% of Sony worth $210,780,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in SNE. Sageworth Trust Co purchased a new stake in Sony in the 2nd quarter worth approximately $103,000. Braun Bostich & Associates Inc. acquired a new position in shares of Sony in the 1st quarter valued at $115,000. Credit Agricole S A acquired a new position in shares of Sony in the 2nd quarter valued at $146,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Sony in the 1st quarter valued at $168,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Sony in the 2nd quarter valued at $239,000. 7.63% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on SNE. ValuEngine lowered shares of Sony from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Sony from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a report on Friday, August 3rd. Finally, Credit Suisse Group upgraded shares of Sony from a “neutral” rating to an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $74.15.
Shares of SNE opened at $57.76 on Friday. The firm has a market capitalization of $71.83 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.92 and a beta of 1.43. Sony Corp has a fifty-two week low of $36.25 and a fifty-two week high of $58.10. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.
Sony (NYSE:SNE) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.44. The company had revenue of $1,953.62 billion for the quarter, compared to analyst estimates of $1,882.28 billion. Sony had a net margin of 7.32% and a return on equity of 16.74%. Sony’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $62.70 EPS. sell-side analysts forecast that Sony Corp will post 4.17 earnings per share for the current fiscal year.
Sony Company Profile
Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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