Sony Group Co. (NYSE:SONY) Receives Consensus Rating of “Buy” from Brokerages

Sony Group Co. (NYSE:SONY) has received a consensus recommendation of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.66.

Several research analysts have issued reports on the stock. TD Cowen decreased their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th.

Sony Group Trading Down 2.1 %

Shares of Sony Group stock opened at $17.61 on Friday. The business has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $5.98. The firm has a market cap of $106.47 billion, a price-to-earnings ratio of 16.30 and a beta of 0.94. Sony Group has a fifty-two week low of $15.02 and a fifty-two week high of $20.18. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. On average, equities analysts forecast that Sony Group will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mondrian Investment Partners LTD lifted its position in shares of Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after purchasing an additional 774,502 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Sony Group by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock valued at $138,635,000 after buying an additional 18,487 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Sony Group in the third quarter worth approximately $109,462,000. Marshall Wace LLP raised its position in Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after acquiring an additional 838,543 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Sony Group by 3.5% in the second quarter. Sei Investments Co. now owns 611,514 shares of the company’s stock valued at $51,946,000 after acquiring an additional 20,802 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.