Sony Group Co. (NYSE:SONY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Sony Group Co. (NYSE:SONY) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $108.00.

Several brokerages have weighed in on SONY. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Sony Group in a research note on Tuesday, December 12th. They set an “outperform” rating on the stock. Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research note on Monday, February 26th. Finally, TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th.

Institutional Trading of Sony Group

Several hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC grew its stake in shares of Sony Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after purchasing an additional 342,025 shares during the last quarter. Bank of America Corp DE lifted its holdings in Sony Group by 27.2% in the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock valued at $402,598,000 after buying an additional 949,271 shares during the period. Morgan Stanley lifted its holdings in Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after buying an additional 15,415 shares during the period. BlackRock Inc. lifted its holdings in Sony Group by 32.8% in the second quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock valued at $316,869,000 after buying an additional 869,957 shares during the period. Finally, Harding Loevner LP lifted its holdings in Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after buying an additional 2,181,169 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Down 0.2 %

Shares of SONY opened at $86.54 on Thursday. The firm has a market capitalization of $106.81 billion, a P/E ratio of 16.71 and a beta of 0.98. The company has a 50-day simple moving average of $91.38 and a 200-day simple moving average of $88.90. Sony Group has a 52 week low of $79.62 and a 52 week high of $100.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The business had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. On average, equities research analysts expect that Sony Group will post 5.19 earnings per share for the current year.

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.