Analysts Set Sony Group Co. (NYSE:SONY) Price Target at $28.00

Sony Group Co. (NYSE:SONY) has received a consensus rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.00.

Several research firms have commented on SONY. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating for the company. The Goldman Sachs Group started coverage on Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating for the company. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Sony Group

A number of hedge funds and other institutional investors have recently modified their holdings of SONY. Primecap Management Co. CA boosted its holdings in shares of Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares in the last quarter. Aristotle Capital Management LLC raised its stake in shares of Sony Group by 393.7% in the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after purchasing an additional 42,083,842 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after purchasing an additional 36,783,737 shares in the last quarter. Bank of America Corp DE lifted its holdings in Sony Group by 377.7% during the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after acquiring an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI grew its position in shares of Sony Group by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after acquiring an additional 8,157,776 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Performance

SONY opened at $24.87 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $20.06. Sony Group has a 1-year low of $15.02 and a 1-year high of $25.78. The stock has a market cap of $150.41 billion, a P/E ratio of 20.19, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. As a group, equities analysts anticipate that Sony Group will post 1.23 EPS for the current fiscal 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.