Brokers Offer Predictions for Sony Group Co.’s Q2 2023 Earnings (NYSE:SONY)

Sony Group Co. (NYSE:SONYGet Rating) – Stock analysts at Oppenheimer cut their Q2 2023 earnings per share (EPS) estimates for shares of Sony Group in a research report issued to clients and investors on Tuesday, August 2nd. Oppenheimer analyst M. Yang now forecasts that the company will post earnings per share of $1.02 for the quarter, down from their prior estimate of $1.22. Oppenheimer has a “NA” rating and a $125.00 price objective on the stock. The consensus estimate for Sony Group’s current full-year earnings is $5.63 per share. Oppenheimer also issued estimates for Sony Group’s Q4 2023 earnings at $1.09 EPS.

Several other equities research analysts also recently issued reports on SONY. TheStreet downgraded shares of Sony Group from a “b-” rating to a “c+” rating in a research note on Tuesday, July 5th. Macquarie upgraded shares of Sony Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 8th. Finally, Citigroup downgraded shares of Sony Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.00.

Sony Group Trading Up 0.4 %

Shares of NYSE SONY opened at $86.32 on Friday. Sony Group has a one year low of $79.05 and a one year high of $133.75. The business has a 50-day moving average price of $85.75 and a two-hundred day moving average price of $94.09. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $105.32 billion, a PE ratio of 14.18, a PEG ratio of 5.25 and a beta of 0.88.

Sony Group (NYSE:SONYGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.05). Sony Group had a return on equity of 11.54% and a net margin of 8.91%. The business had revenue of $19.49 billion for the quarter, compared to analyst estimates of $20.82 billion.

Institutional Investors Weigh In On Sony Group

A number of institutional investors have recently bought and sold shares of the business. M&T Bank Corp boosted its stake in Sony Group by 15.9% during the second quarter. M&T Bank Corp now owns 106,128 shares of the company’s stock worth $8,418,000 after buying an additional 14,544 shares in the last quarter. CapWealth Advisors LLC lifted its holdings in shares of Sony Group by 1.7% during the second quarter. CapWealth Advisors LLC now owns 109,286 shares of the company’s stock valued at $8,936,000 after acquiring an additional 1,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sony Group by 577.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,975 shares of the company’s stock valued at $5,231,000 after acquiring an additional 54,533 shares during the period. Markel Corp lifted its holdings in shares of Sony Group by 210.5% during the second quarter. Markel Corp now owns 49,680 shares of the company’s stock valued at $4,063,000 after acquiring an additional 33,680 shares during the period. Finally, Riverwater Partners LLC bought a new position in shares of Sony Group during the second quarter valued at $464,000.

Sony Group Company Profile

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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 and portable game consoles, packaged software, and peripheral devices.

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Earnings History and Estimates for Sony Group (NYSE:SONY)

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