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Sony (NYSE:SONY) Issues Quarterly Earnings Results

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Key Points

  • Sony reported quarterly EPS of $0.09, missing analysts’ estimate of $0.22, even though revenue came in above expectations at $19.15 billion.
  • The company’s revenue rose 8.3% year over year, but net margin remained negative at 1.44% and the quarter was far weaker than the same period a year ago.
  • Sony shares traded up about 1% after the report, while analysts currently maintain a consensus Hold rating with a $22 target price.
  • Interested in Sony? Here are five stocks we like better.

Sony (NYSE:SONY - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13), reports. Sony had a negative net margin of 1.44% and a positive return on equity of 13.59%. The business had revenue of $19.15 billion for the quarter, compared to analysts' expectations of $18.43 billion. During the same quarter in the previous year, the company earned $32.86 earnings per share. The business's quarterly revenue was up 8.3% on a year-over-year basis.

Sony Stock Up 1.0%

Shares of SONY traded up $0.21 on Friday, hitting $20.10. 13,243,571 shares of the stock traded hands, compared to its average volume of 5,867,466. The company has a market capitalization of $119.55 billion, a PE ratio of -100.47, a P/E/G ratio of 6.72 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.22. The business has a 50 day simple moving average of $21.00 and a 200 day simple moving average of $24.18. Sony has a one year low of $19.63 and a one year high of $30.34.

Institutional Investors Weigh In On Sony

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in Sony by 10.7% in the 4th quarter. Royal Bank of Canada now owns 6,778,922 shares of the company's stock worth $173,539,000 after purchasing an additional 657,655 shares during the period. Wells Fargo & Company MN grew its position in Sony by 3.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,096,937 shares of the company's stock worth $79,282,000 after purchasing an additional 95,143 shares during the period. Raymond James Financial Inc. grew its position in Sony by 41.6% in the 2nd quarter. Raymond James Financial Inc. now owns 2,482,524 shares of the company's stock worth $64,620,000 after purchasing an additional 729,351 shares during the period. JPMorgan Chase & Co. grew its position in Sony by 21.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,147,687 shares of the company's stock worth $54,981,000 after purchasing an additional 372,996 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Sony by 3.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,083,838 shares of the company's stock worth $60,221,000 after purchasing an additional 75,766 shares during the period. Institutional investors own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SONY. Zacks Research lowered shares of Sony from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Weiss Ratings lowered shares of Sony from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, February 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $22.00 target price (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.00.

View Our Latest Report on SONY

Sony News Roundup

Here are the key news stories impacting Sony this week:

About Sony

(Get Free Report)

Sony Group Corporation NYSE: SONY is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company's shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony's primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

Featured Stories

Earnings History for Sony (NYSE:SONY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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