Oppenheimer Reaffirms Outperform Rating for Sony Group (NYSE:SONY)

Sony Group (NYSE:SONY)‘s stock had its “outperform” rating reissued by Oppenheimer in a research report issued on Thursday,Benzinga reports. They presently have a $33.00 price objective on the stock, up from their previous price objective of $25.00. Oppenheimer’s price objective points to a potential upside of 33.04% from the stock’s current price.

A number of other brokerages also recently commented on SONY. StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Price Performance

Shares of SONY opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market capitalization of $150.01 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 9.98 and a beta of 0.96. The business’s 50-day moving average is $21.74 and its 200-day moving average is $15.86. Sony Group has a fifty-two week low of $15.02 and a fifty-two week high of $25.29.

Sony Group (NYSE:SONY) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Equities research analysts expect that Sony Group will post 1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Several hedge funds have recently bought and sold shares of the business. Fiduciary Trust Co lifted its position in shares of Sony Group by 13.4% in the third quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after buying an additional 585 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Sony Group by 14.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock worth $447,000 after purchasing an additional 599 shares during the last quarter. West Family Investments Inc. boosted its position in Sony Group by 13.0% during the third quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock worth $524,000 after purchasing an additional 623 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock valued at $134,000 after purchasing an additional 716 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Sony Group by 23.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock valued at $352,000 after purchasing an additional 751 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

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.