Sony Group Co. (NYSE:SONY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sony Group Co. (NYSE:SONY) has earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $108.00.

Several equities research analysts have recently commented on the company. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a research note on Monday, February 26th.

Sony Group Stock Performance

SONY stock opened at $81.29 on Monday. The stock has a market capitalization of $100.33 billion, a PE ratio of 15.69 and a beta of 0.98. Sony Group has a 12-month low of $79.62 and a 12-month high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $86.77 and its 200 day simple moving average is $88.87.

Sony Group (NYSE:SONY) last announced its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The business had revenue of $25.38 billion during the quarter, compared to analyst estimates of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. As a group, research analysts forecast that Sony Group will post 5.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SONY. Fisher Asset Management LLC lifted its holdings in shares of Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after acquiring an additional 342,025 shares during the last quarter. Bank of America Corp DE increased its position in shares of Sony Group by 27.2% during the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock worth $402,598,000 after acquiring an additional 949,271 shares during the period. Morgan Stanley increased its position in shares of Sony Group by 0.4% during the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after acquiring an additional 15,415 shares during the period. BlackRock Inc. increased its position in shares of Sony Group by 32.8% during the second quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock worth $316,869,000 after acquiring an additional 869,957 shares during the period. Finally, Harding Loevner LP increased its position in shares of Sony Group by 2,206.6% during the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after acquiring an additional 2,181,169 shares during the period. Institutional investors 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.