Sony Corp Ord (SNE) Stock Rating Lowered by Morgan Stanley

Sony Corp Ord (NYSE:SNE) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday.

Several other brokerages have also recently issued reports on SNE. Citigroup Inc. cut shares of Sony Corp Ord from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.60 to $39.93 in a research note on Monday, September 11th. Zacks Investment Research raised shares of Sony Corp Ord from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $45.74 price objective on shares of Sony Corp Ord in a research note on Thursday, August 3rd. BidaskClub raised shares of Sony Corp Ord from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Finally, Credit Suisse Group cut shares of Sony Corp Ord from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.42.

Sony Corp Ord (NYSE:SNE) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. Sony Corp Ord had a net margin of 1.67% and a return on equity of 4.17%. The company had revenue of $1,858.10 billion during the quarter, compared to analysts’ expectations of $1,735.86 billion. During the same period in the previous year, the company earned $16.44 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year.

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Several institutional investors have recently modified their holdings of SNE. Waldron LP acquired a new stake in shares of Sony Corp Ord in the 1st quarter valued at about $1,052,000. Bank of New York Mellon Corp raised its stake in shares of Sony Corp Ord by 820.7% in the 1st quarter. Bank of New York Mellon Corp now owns 397,232 shares of the company’s stock valued at $13,399,000 after purchasing an additional 354,087 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Sony Corp Ord by 8.0% in the 1st quarter. Ameriprise Financial Inc. now owns 268,116 shares of the company’s stock valued at $9,052,000 after purchasing an additional 19,857 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Sony Corp Ord by 2.6% in the 1st quarter. Lazard Asset Management LLC now owns 562,016 shares of the company’s stock valued at $18,956,000 after purchasing an additional 14,350 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Sony Corp Ord by 18.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,133,900 shares of the company’s stock valued at $38,246,000 after purchasing an additional 178,200 shares in the last quarter. Institutional investors and hedge funds own 6.54% of the company’s stock.

Sony Corp Ord Company Profile

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.

Analyst Recommendations for Sony Corp Ord (NYSE:SNE)

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