TD Cowen Lowers Sony Group (NYSE:SONY) Price Target to $23.00

Sony Group (NYSE:SONY) had its price target cut by TD Cowen from $107.00 to $23.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the stock. StockNews.com upgraded shares of Sony Group from a hold rating to a buy rating in a research note on Wednesday, October 9th. Daiwa America upgraded Sony Group to a strong-buy rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sony Group presently has a consensus rating of Buy and an average target price of $22.30.

Sony Group Stock Up 0.6 %

Sony Group stock opened at $19.09 on Friday. The stock has a market cap of $23.56 billion, a PE ratio of 3.51 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The stock’s fifty day moving average is $29.26 and its two-hundred day moving average is $21.26. Sony Group has a 1-year low of $15.02 and a 1-year high of $20.18.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The business had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. On average, sell-side analysts expect that Sony Group will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sony Group during the 2nd quarter worth $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group during the first quarter worth about $29,000. Rise Advisors LLC grew its position in Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the period. Ridgewood Investments LLC purchased a new position in Sony Group in the second quarter valued at about $41,000. Finally, Family Firm Inc. purchased a new stake in shares of Sony Group during the 2nd quarter worth approximately $44,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Company Profile

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.