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

Sony Group (NYSE:SONY) had its target price trimmed by TD Cowen from $107.00 to $23.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. StockNews.com upgraded Sony Group from a hold rating to a buy rating in a research report on Wednesday, October 9th. Daiwa America upgraded shares of Sony Group to a strong-buy rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sony Group currently has a consensus rating of Buy and a consensus price target of $22.30.

Sony Group Stock Performance

Shares of SONY opened at $18.98 on Friday. The firm has a fifty day moving average of $29.20 and a 200-day moving average of $21.24. The company has a market cap of $114.78 billion, a price-to-earnings ratio of 17.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.18.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. 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 analyst estimates of $17.42 billion. As a group, equities analysts anticipate that Sony Group will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Sony Group

Several hedge funds have recently modified their holdings of SONY. Ellsworth Advisors LLC acquired a new position in Sony Group during the second quarter worth about $1,413,000. Creative Planning raised its holdings in shares of Sony Group by 2.7% in the 2nd quarter. Creative Planning now owns 284,636 shares of the company’s stock worth $24,180,000 after purchasing an additional 7,401 shares in the last quarter. BTC Capital Management Inc. bought a new stake in shares of Sony Group in the 1st quarter worth approximately $1,141,000. Blue Trust Inc. lifted its stake in Sony Group by 279.8% during the second quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock valued at $295,000 after purchasing an additional 2,538 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new stake in Sony Group during the fourth quarter worth approximately $932,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.