Sony (NYSE:SONY) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Sony has been upgraded to a "Strong-Buy" rating by Zacks Research, indicating a positive outlook from analysts.
• The stock currently holds a consensus rating of "Buy" with a price target of $33.00, reflecting optimism among multiple analysts.
• Sony reported an EPS of $0.30 for the last quarter, exceeding expectations, although their revenue fell short of analyst predictions.

Sony (NYSE:SONY - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Sony in a research note on Wednesday, October 8th. Cfra Research upgraded shares of Sony to a "moderate buy" rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Sony currently has a consensus rating of "Buy" and a consensus price target of $33.00.

Sony Price Performance

NYSE:SONY opened at $28.92 on Thursday. The stock has a market cap of $174.87 billion, a P/E ratio of 22.95 and a beta of 0.95. Sony has a one year low of $17.42 and a one year high of $30.28. The company has a fifty day moving average price of $28.62 and a 200 day moving average price of $26.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

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

Hedge Funds Weigh In On Sony

Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in shares of Sony by 19.0% during the 2nd quarter. Fisher Asset Management LLC now owns 101,878,066 shares of the company's stock worth $2,651,886,000 after purchasing an additional 16,280,542 shares in the last quarter. Northern Trust Corp increased its position in shares of Sony by 3.4% during the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock worth $199,198,000 after purchasing an additional 257,838 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Sony during the 1st quarter worth about $78,905,000. Raymond James Financial Inc. increased its position in shares of Sony by 41.6% during 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 in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Sony by 124.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock worth $52,814,000 after purchasing an additional 1,142,849 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company's stock.

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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