Sony Group (NYSE:SONY) Stock Rating Upgraded by StockNews.com

Sony Group (NYSE:SONY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Separately, Daiwa America upgraded 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, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.60.

Sony Group Stock Down 1.0 %

NYSE:SONY opened at $18.85 on Wednesday. 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 has a 1-year low of $15.02 and a 1-year high of $20.18. The business’s fifty day moving average price is $29.15 and its 200 day moving average price is $21.18. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 3.47 and a beta of 0.94.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, sell-side analysts forecast that Sony Group will post 3.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Several hedge funds and other institutional investors have recently modified their holdings of SONY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Sony Group during the 2nd quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Sony Group in the 1st quarter valued at $29,000. Rise Advisors LLC increased its stake in shares of Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after buying an additional 254 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Sony Group in the 2nd quarter valued at $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Sony Group in the 2nd quarter valued at $44,000. 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.