StockNews.com Lowers Sony Group (NYSE:SONY) to Hold

Sony Group (NYSE:SONY - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.

Other equities analysts have also recently issued reports about the company. TheStreet upgraded Sony Group from a "c+" rating to a "b-" rating in a report on Thursday, January 11th. Wolfe Research initiated coverage on Sony Group in a report on Tuesday, December 12th. They issued an "outperform" rating for the company. Oppenheimer reiterated an "outperform" rating and issued a $108.00 price objective on shares of Sony Group in a report on Monday, February 26th. Finally, Macquarie cut Sony Group from an "outperform" rating to a "neutral" rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Sony Group presently has an average rating of "Moderate Buy" and an average target price of $108.00.

Sony Group Price Performance

Sony Group stock traded down $0.50 during midday trading on Monday, hitting $84.32. 550,348 shares of the company's stock were exchanged, compared to its average volume of 806,513. Sony Group has a 52-week low of $79.62 and a 52-week high of $100.94. The stock has a 50-day moving average price of $89.37 and a two-hundred day moving average price of $88.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. The company has a market cap of $104.07 billion, a P/E ratio of 16.28 and a beta of 0.98.

Sony Group (NYSE:SONY - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The business had revenue of $25.38 billion during the quarter, compared to analysts' expectations of $24.31 billion. On average, equities research analysts forecast that Sony Group will post 5.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SONY. CVA Family Office LLC bought a new position in shares of Sony Group in the 4th quarter worth approximately $27,000. KB Financial Partners LLC purchased a new stake in Sony Group during the 1st quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in Sony Group during the 4th quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Sony Group during the 4th quarter valued at $34,000. Finally, Pinnacle Bancorp Inc. purchased a new stake in Sony Group during the 4th quarter valued at $39,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.