Sony Group (NYSE:SONY) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Sony Group (NYSE:SONY) from a buy rating to a hold rating in a report released on Thursday.

SONY has been the subject of several other research reports. TD Cowen cut their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and an average price target of $22.30.

Sony Group Trading Down 1.6 %

Shares of Sony Group stock opened at $18.22 on Thursday. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 3.35 and a beta of 0.94. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.18. The company’s fifty day simple moving average is $29.39 and its 200-day simple moving average is $21.30. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. As a group, sell-side analysts expect that Sony Group will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its holdings in shares of Sony Group by 8,495.0% during the 2nd quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after purchasing an additional 838,543 shares in the last quarter. Mondrian Investment Partners LTD raised its holdings in Sony Group by 43.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after buying an additional 774,502 shares during the period. Manning & Napier Advisors LLC bought a new position in Sony Group in the second quarter valued at approximately $18,567,000. Pictet North America Advisors SA acquired a new position in shares of Sony Group in the first quarter valued at approximately $18,702,000. Finally, Alight Capital Management LP bought a new stake in shares of Sony Group during the second quarter worth $12,742,000. 14.05% of the stock is owned by institutional investors and hedge funds.

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.