Sony Group (NYSE:SONY) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Sony Group (NYSE:SONY) announced its quarterly earnings results on Thursday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14, Zacks reports. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. The firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group updated its FY 2024 guidance to EPS.

Sony Group Price Performance

NYSE:SONY traded up $0.97 during trading hours on Friday, hitting $24.16. 5,032,566 shares of the stock were exchanged, compared to its average volume of 3,630,980. Sony Group has a 52-week low of $15.02 and a 52-week high of $24.25. The firm’s fifty day moving average price is $21.46 and its 200 day moving average price is $15.12. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market cap of $146.08 billion, a P/E ratio of 19.77, a P/E/G ratio of 11.46 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer cut their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sony Group currently has an average rating of “Buy” and a consensus price target of $24.00.

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.