Sony Group Co. (NYSE:SONY) Given Average Rating of “Buy” by Analysts

Sony Group Co. (NYSE:SONY) has earned a consensus rating of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $13.66.

Several research firms have recently commented on SONY. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, TD Cowen cut their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

Hedge Funds Weigh In On Sony Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Sony Group during the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new position in Sony Group in the 2nd quarter valued at about $41,000. Family Firm Inc. bought a new stake in shares of Sony Group during the 2nd quarter worth about $44,000. Hobbs Group Advisors LLC acquired a new stake in shares of Sony Group in the 2nd quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Sony Group by 38.6% in the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after acquiring an additional 233 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Performance

Sony Group stock opened at $17.61 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. Sony Group has a 12 month low of $15.02 and a 12 month high of $20.18. The company has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $5.98. The company has a market cap of $106.47 billion, a PE ratio of 16.30 and a beta of 0.94.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Research analysts expect that Sony Group will post 0.6 earnings per share for the current year.

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.