Sony (NYSE:SONY) Stock Lifted to "Strong-Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Sony from “hold” to “strong-buy,” but the broader analyst consensus remains “hold,” with a $26 price target.
• Sony reported quarterly EPS of $0.49, topping the $0.38 estimate, and revenue of $21.77 billion, ahead of forecasts and up 10.3% year over year.
• Sony shares opened at $27.09, above their 50-day and 200-day moving averages; the stock’s 52-week range is $19.32 to $30.33.

Sony (NYSE:SONY - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

SONY has been the topic of a number of other research reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $26.00 price objective on shares of Sony in a research note on Thursday, November 5th. Zacks Research lowered shares of Sony from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 30th. Weiss Ratings raised shares of Sony from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Finally, Benchmark restated a "buy" rating on shares of Sony in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sony presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Sony Price Performance

NYSE SONY opened at $27.09 on Friday. The company has a market capitalization of $160.08 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 1.25. The business's fifty day moving average is $24.69 and its 200 day moving average is $22.48. Sony has a fifty-two week low of $19.32 and a fifty-two week high of $30.33.

Sony (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.11. The business had revenue of $21.77 billion during the quarter, compared to analysts' expectations of $20.15 billion. Sony had a positive return on equity of 14.20% and a negative net margin of 1.54%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $60.10 earnings per share. Sell-side analysts predict that Sony will post 1.46 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kenji Tanaka sold 20,000 shares of Sony stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.83, for a total value of $476,600.00. Following the completion of the transaction, the insider owned 43,899 shares in the company, valued at approximately $1,046,113.17. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Sony

Several institutional investors have recently modified their holdings of SONY. Marshall Wace LLP purchased a new position in shares of Sony in the 3rd quarter worth approximately $380,000. Empowered Funds LLC purchased a new stake in Sony during the 3rd quarter valued at $392,000. Bleakley Financial Group LLC raised its holdings in Sony by 135.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 187,675 shares of the company's stock valued at $4,416,000 after buying an additional 108,080 shares during the period. Disciplined Investors L.L.C. purchased a new stake in Sony during the 3rd quarter valued at $221,000. Finally, First Trust Advisors LP lifted its position in Sony by 13.2% in the third quarter. First Trust Advisors LP now owns 164,006 shares of the company's stock worth $3,859,000 after buying an additional 19,107 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Recent Sony Headlines

Here are a few of the latest headlines about SONY:

• Neutral Sentiment: Discounts on Sony headphones and TVs may support consumer demand, though promotional pricing could also pressure margins; the articles provide no sales or profitability impact. Article: Early Black Friday treat: Sony XM6 headphones are down to a record-low price at Amazon
• Negative Sentiment: Sony canceled the unreleased live-service game Fairgame$, a setback for its game pipeline. The cancellation may also avoid further development spending, so the financial effect is unclear. Article reference
• Negative Sentiment: Ending PlayStation Plus cloud streaming on PC reduces service availability for some users, although reports describe the offering as little-used. Article: Sony Is Retiring Its Little-Used PlayStation Plus Cloud Streaming Service on PC

Sony Company Profile

Sony Group Corporation is a Japan-based global entertainment and technology company, founded in Tokyo in 1946 by Masaru Ibuka and Akio Morita. Initially known as Tokyo Tsushin Kogyo, the company adopted the name Sony in 1958. Sony's businesses include video games and network services through PlayStation; music recording and publishing; film and television production and distribution; consumer electronics, including televisions and cameras; and imaging and sensing technologies, including image sensors.

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