Daiwa America upgraded shares of Sony Group (NYSE:SONY – Free Report) to a strong-buy rating in a research note issued to investors on Wednesday, Zacks.com reports.
Separately, StockNews.com cut Sony Group from a buy rating to a hold rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $108.00.
Read Our Latest Stock Report on SONY
Sony Group Trading Down 0.2 %
Shares of Sony Group are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the market closes on Monday, September 30th.
Sony Group (NYSE:SONY – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Research analysts forecast that Sony Group will post 5.63 earnings per share for the current fiscal year.
Institutional Trading of Sony Group
A number of institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Sony Group in the 2nd quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in Sony Group in the 1st quarter worth approximately $29,000. Rise Advisors LLC boosted its holdings in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the period. Ridgewood Investments LLC purchased a new position in Sony Group in the 2nd quarter worth approximately $41,000. Finally, Family Firm Inc. acquired a new position in shares of Sony Group in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.
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.
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