Sony Corp (NYSE:SNE) – Investment analysts at Jefferies Group boosted their FY2019 EPS estimates for shares of Sony in a research note issued on Wednesday. Jefferies Group analyst A. Goyal now expects that the company will earn $3.32 per share for the year, up from their previous forecast of $3.30. Jefferies Group currently has a “Buy” rating and a $59.84 target price on the stock. Jefferies Group also issued estimates for Sony’s FY2020 earnings at $3.80 EPS.
A number of other research analysts have also weighed in on SNE. Zacks Investment Research lowered Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Credit Suisse Group lowered Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Morgan Stanley lowered Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Finally, Citigroup lowered Sony from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.60 to $39.93 in a report on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $46.94.
Sony (NYSE SNE) traded up $0.39 during mid-day trading on Thursday, hitting $44.84. The stock had a trading volume of 738,061 shares, compared to its average volume of 855,003. Sony has a 52 week low of $27.91 and a 52 week high of $48.33. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $56,417.82, a price-to-earnings ratio of 25.08 and a beta of 1.78.
Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services Inc bought a new stake in shares of Sony in the third quarter valued at $215,000. Bank of New York Mellon Corp raised its stake in shares of Sony by 105.6% in the second quarter. Bank of New York Mellon Corp now owns 816,725 shares of the company’s stock valued at $31,191,000 after buying an additional 419,493 shares during the period. Allen Investment Management LLC raised its stake in shares of Sony by 60.5% in the second quarter. Allen Investment Management LLC now owns 20,132 shares of the company’s stock valued at $769,000 after buying an additional 7,590 shares during the period. Athos Capital Ltd raised its stake in shares of Sony by 280.0% in the third quarter. Athos Capital Ltd now owns 34,200 shares of the company’s stock valued at $2,937,000 after buying an additional 25,200 shares during the period. Finally, Columbia Asset Management raised its stake in shares of Sony by 11.8% in the second quarter. Columbia Asset Management now owns 33,870 shares of the company’s stock valued at $1,293,000 after buying an additional 3,575 shares during the period. Hedge funds and other institutional investors own 6.78% of the company’s stock.
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.
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