Sony Group (NYSE:SONY) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Sony Group (NYSE:SONY) released its quarterly earnings data on Thursday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14, Zacks reports. Sony Group had a net margin of 8.55% and a return on equity of 14.27%. Sony Group updated its FY 2024 guidance to EPS.

Sony Group Price Performance

Shares of SONY stock traded up $1.22 on Thursday, reaching $23.19. The company’s stock had a trading volume of 3,611,125 shares, compared to its average volume of 3,691,860. The stock’s fifty day simple moving average is $21.35 and its 200-day simple moving average is $14.92. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $140.21 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 11.46 and a beta of 0.96. Sony Group has a 1 year low of $15.02 and a 1 year high of $24.03.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Oppenheimer lowered their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.00.

Sony Group Company Profile

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.