Sony Group Co. (NYSE:SONY – Get Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $84.72, but opened at $87.37. Sony Group shares last traded at $88.52, with a volume of 106,132 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Sony Group currently has a consensus rating of “Moderate Buy” and an average price target of $108.00.
Sony Group Stock Up 5.1 %
The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $109.94 billion, a P/E ratio of 16.31 and a beta of 0.94. The stock has a 50 day moving average price of $86.58 and a 200 day moving average price of $86.37.
Sony Group shares are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be issued to shareholders after the market closes on Monday, September 30th.
Sony Group (NYSE:SONY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $23.45 billion during the quarter, compared to analyst estimates of $18.97 billion. During the same quarter last year, the business earned $0.78 EPS. On average, research analysts anticipate that Sony Group Co. will post 5.72 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sony Group
A number of hedge funds have recently modified their holdings of SONY. Thurston Springer Miller Herd & Titak Inc. bought a new position in Sony Group during the 2nd quarter worth $26,000. Sunbelt Securities Inc. bought a new position in Sony Group during the 1st quarter worth approximately $29,000. Rise Advisors LLC lifted its position in shares of Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Sony Group in the 4th quarter valued at $34,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Sony Group during the second quarter worth $41,000. Institutional investors and hedge funds 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.