Sony (NYSE:SONY) Earns Buy (B) Rating from Weiss Ratings

Key Points

• Sony's stock has been reaffirmed with a "buy (B)" rating by Weiss Ratings, according to a recent research note.
• The company's shares experienced a slight uptick to $29.77, with a trading volume of approximately 3.97 million shares.
• In its latest earnings report, Sony reported $0.30 earnings per share, exceeding estimates of $0.24 despite revenue falling short at $17.79 billion.

Sony (NYSE:SONY - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Sony Stock Performance

Shares of SONY stock traded up $0.03 during trading hours on Wednesday, reaching $29.77. The company had a trading volume of 3,973,666 shares, compared to its average volume of 4,534,325. The business has a fifty day moving average price of $28.10 and a 200-day moving average price of $26.02. Sony has a one year low of $17.42 and a one year high of $30.25. The firm has a market cap of $180.04 billion, a PE ratio of 23.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The business had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same period last year, the firm earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. Sell-side analysts predict that Sony will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sony

Several large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in Sony by 19.0% during the second quarter. Fisher Asset Management LLC now owns 101,878,066 shares of the company's stock valued at $2,651,886,000 after purchasing an additional 16,280,542 shares in the last quarter. Northern Trust Corp lifted its holdings in Sony by 3.4% during the first quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock valued at $199,198,000 after purchasing an additional 257,838 shares in the last quarter. Wellington Management Group LLP purchased a new position in Sony during the first quarter valued at approximately $78,905,000. Raymond James Financial Inc. lifted its holdings in Sony by 41.6% during the second quarter. Raymond James Financial Inc. now owns 2,482,524 shares of the company's stock valued at $64,620,000 after purchasing an additional 729,351 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Sony by 124.5% during the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock valued at $52,814,000 after purchasing an additional 1,142,849 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony 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.

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