Sony Group (NYSE:SONY) Upgraded by Daiwa America to “Strong-Buy”

Daiwa America upgraded shares of Sony Group (NYSE:SONY) to a strong-buy rating in a research note released on Wednesday morning, Zacks.com reports.

Separately, StockNews.com lowered shares of Sony Group from a buy rating to a hold rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sony Group has an average rating of Moderate Buy and a consensus target price of $108.00.

Sony Group Price Performance

NYSE:SONY opened at $90.49 on Wednesday. The stock has a 50 day moving average of $91.05 and a two-hundred day moving average of $86.47. Sony Group has a 12 month low of $75.11 and a 12 month high of $100.88. The firm has a market cap of $111.68 billion, a P/E ratio of 16.63 and a beta of 0.95. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

Sony Group shares are scheduled to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. On average, analysts expect that Sony Group will post 5.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in Sony Group by 107.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the last quarter. 9258 Wealth Management LLC acquired a new stake in shares of Sony Group during the 4th quarter worth approximately $221,000. Dimensional Fund Advisors LP increased its holdings in shares of Sony Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 547,573 shares of the company’s stock worth $51,850,000 after buying an additional 2,350 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Sony Group by 9.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,513 shares of the company’s stock valued at $2,700,000 after buying an additional 2,498 shares during the period. Finally, Norges Bank acquired a new position in Sony Group in the fourth quarter valued at approximately $10,193,000. 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.