Sony (NYSE:SONY) Reaches New 12-Month High - Here's Why

Key Points

• Sony's stock price reached a new 52-week high of $30.33 during trading, with an average price target of $28.00 and a consensus rating of "Moderate Buy" from analysts.
• Recent quarterly earnings showed Sony reported $0.30 EPS, exceeding expectations, although revenue fell short with $17.79 billion compared to estimates of $18.88 billion.
• Institutional investors have increased their positions in Sony, with Voya Investment Management boosting its stake by 86.6% in the third quarter.

Sony Corporation (NYSE:SONY - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $30.33 and last traded at $30.25, with a volume of 22273 shares changing hands. The stock had previously closed at $29.75.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Sony in a report on Wednesday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $28.10 and a 200-day simple moving average of $26.02. The stock has a market cap of $180.44 billion, a price-to-earnings ratio of 23.68 and a beta of 0.95.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion during 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 quarter in the previous year, the company posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Sony Corporation will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony

Several institutional investors have recently made changes to their positions in SONY. Voya Investment Management LLC boosted its position in Sony by 86.6% during the 3rd quarter. Voya Investment Management LLC now owns 146,070 shares of the company's stock valued at $4,205,000 after purchasing an additional 67,770 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Sony by 5.9% during the third quarter. Contravisory Investment Management Inc. now owns 10,183 shares of the company's stock worth $293,000 after acquiring an additional 568 shares during the last quarter. Riversedge Advisors LLC increased its holdings in shares of Sony by 9.7% in the 3rd quarter. Riversedge Advisors LLC now owns 11,887 shares of the company's stock worth $342,000 after acquiring an additional 1,052 shares during the period. Hilltop National Bank lifted its position in Sony by 19.1% in the 3rd quarter. Hilltop National Bank now owns 4,889 shares of the company's stock valued at $141,000 after purchasing an additional 784 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in Sony by 4.5% during the 3rd quarter. Wedmont Private Capital now owns 19,732 shares of the company's stock valued at $587,000 after purchasing an additional 853 shares during the period. 14.05% of the stock is owned by institutional investors.

About Sony

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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