Sony (NYSE:SNE) Reaches New 1-Year High at $72.91

Sony Corp (NYSE:SNE) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $72.91 and last traded at $72.17, with a volume of 27209 shares trading hands. The stock had previously closed at $71.64.

SNE has been the topic of several research reports. ValuEngine cut shares of Sony from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Gabelli initiated coverage on shares of Sony in a research report on Thursday, October 24th. They issued a “buy” rating and a $92.00 price objective on the stock. Finally, UBS Group raised shares of Sony from a “neutral” rating to a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.35.

The firm’s 50-day simple moving average is $67.19 and its 200 day simple moving average is $59.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.86. The stock has a market capitalization of $90.53 billion, a P/E ratio of 11.28, a PEG ratio of 2.27 and a beta of 1.36.

Sony (NYSE:SNE) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.08 by $0.31. Sony had a net margin of 9.93% and a return on equity of 18.90%. The firm had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.57 billion. As a group, research analysts expect that Sony Corp will post 4.05 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in Sony by 54.3% during the 2nd quarter. Bank of America Corp DE now owns 5,654,760 shares of the company’s stock worth $296,254,000 after buying an additional 1,991,129 shares in the last quarter. BlackRock Inc. lifted its position in Sony by 361.1% during the 2nd quarter. BlackRock Inc. now owns 4,035,069 shares of the company’s stock worth $211,397,000 after buying an additional 3,159,926 shares in the last quarter. Soroban Capital Partners LP lifted its position in Sony by 31.2% during the 2nd quarter. Soroban Capital Partners LP now owns 3,831,895 shares of the company’s stock worth $200,753,000 after buying an additional 910,786 shares in the last quarter. Suvretta Capital Management LLC acquired a new position in shares of Sony during the 2nd quarter worth about $162,743,000. Finally, Manning & Napier Group LLC acquired a new position in shares of Sony during the 3rd quarter worth about $125,684,000. 8.66% of the stock is currently owned by hedge funds and other institutional investors.

Sony Company Profile (NYSE:SNE)

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.

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