Sony (NYSE:SONY) Issues Quarterly Earnings Results

Sony (NYSE:SONYGet Free Report) posted its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13), reports. The firm had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.43 billion. Sony had a negative net margin of 1.44% and a positive return on equity of 13.59%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $32.86 EPS.

Sony Price Performance

Shares of SONY traded up $0.21 during mid-day trading on Friday, reaching $20.10. The company had a trading volume of 13,243,571 shares, compared to its average volume of 5,867,466. Sony has a twelve month low of $19.63 and a twelve month high of $30.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97. The company’s 50-day moving average is $21.00 and its 200-day moving average is $24.18. The company has a market capitalization of $119.55 billion, a P/E ratio of -100.47, a P/E/G ratio of 6.72 and a beta of 0.92.

More Sony News

Here are the key news stories impacting Sony this week:

Analyst Upgrades and Downgrades

Several research firms have commented on SONY. Weiss Ratings cut Sony from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Finally, Zacks Research cut Sony from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sony currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Check Out Our Latest Stock Analysis on SONY

Hedge Funds Weigh In On Sony

A number of hedge funds have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Sony by 422.0% during the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock valued at $421,000 after purchasing an additional 16,094 shares in the last quarter. AQR Capital Management LLC increased its holdings in Sony by 26.7% during the 1st quarter. AQR Capital Management LLC now owns 178,889 shares of the company’s stock valued at $4,542,000 after purchasing an additional 37,677 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Sony by 23.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 22,013 shares of the company’s stock valued at $573,000 after purchasing an additional 4,172 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Sony by 24.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 16,501 shares of the company’s stock valued at $430,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Sony during the 2nd quarter valued at $26,058,000. 14.05% of the stock is owned by institutional investors and hedge funds.

About Sony

(Get Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

See Also

Earnings History for Sony (NYSE:SONY)

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