Sony Group (NYSE:SONY) Lifted to “Strong-Buy” at Daiwa America

Daiwa America upgraded shares of Sony Group (NYSE:SONY) to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.

Separately, StockNews.com downgraded Sony Group from a buy rating to a hold rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $108.00.

Sony Group Stock Down 0.2 %

SONY stock opened at $93.05 on Wednesday. Sony Group has a 12 month low of $75.11 and a 12 month high of $100.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The company has a market cap of $114.84 billion, a price-to-earnings ratio of 17.10 and a beta of 0.95. The company has a fifty day moving average price of $91.00 and a 200 day moving average price of $86.52.

Shares of Sony Group are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Sell-side analysts expect that Sony Group will post 5.63 earnings per share for the current year.

Hedge Funds Weigh In On Sony Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SONY. Russell Investments Group Ltd. boosted its stake in shares of Sony Group by 107.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company’s stock valued at $123,000 after buying an additional 673 shares in the last quarter. 9258 Wealth Management LLC purchased a new stake in shares of Sony Group during the 4th quarter worth $221,000. Dimensional Fund Advisors LP grew its stake in shares of Sony Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 547,573 shares of the company’s stock worth $51,850,000 after purchasing an additional 2,350 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Sony Group by 9.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,513 shares of the company’s stock valued at $2,700,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sony Group in the fourth quarter valued at about $10,193,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

About Sony Group

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.