Sony Group (NYSE:SONY) Reaches New 12-Month High – Still a Buy?

Sony Group Co. (NYSE:SONY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.88 and last traded at $24.50, with a volume of 7069426 shares traded. The stock had previously closed at $24.14.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SONY shares. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The business’s fifty day simple moving average is $21.68 and its 200-day simple moving average is $15.71. The firm has a market capitalization of $150.74 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 9.98 and a beta of 0.96.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. As a group, equities research analysts expect that Sony Group Co. will post 1.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd grew its holdings in shares of Sony Group by 400.0% in the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after purchasing an additional 28,852 shares in the last quarter. Bfsg LLC purchased a new position in shares of Sony Group in the fourth quarter valued at $6,125,000. Fifth Third Bancorp grew its holdings in shares of Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after purchasing an additional 119,362 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after buying an additional 32,725 shares during the period. Finally, One Wealth Advisors LLC increased its position in Sony Group by 400.9% during the fourth quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock valued at $729,000 after acquiring an additional 27,593 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

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.