Sony Group Co. (NYSE:SONY – Get Rating) – Oppenheimer lowered its fourth quarter 2023 earnings estimate for Sony Group shares in a research note published Wednesday, November 2. Oppenheimer analyst Yang now expects the company to post earnings of $0.94 per share for the quarter, down from its previous forecast of $1.09. The consensus estimate of Sony Group’s current annual earnings is $5.06 per share. Oppenheimer also released Sony Group earnings estimates for fiscal 2025 at $6.12 EPS.
SONY has been the subject of a number of other research reports. Goldman Sachs Group began covering Sony Group in a research report on Wednesday, September 7. They issued a “neutral” rating for the company. Macquarie upgraded Sony Group shares from a “neutral” rating to an “outperforming” rating in a Friday, July 8 report. Cowen lowered his price target on Sony Group shares from $144.00 to $102.00 in a research note on Wednesday. StockNews.com assumed coverage from Sony Group in a report on Wednesday, October 12. They issued a “hold” rating on the stock. Finally, Cowen lowered its target price on Sony Group from $144.00 to $102.00 in a report released Wednesday. Three research analysts rated the stock with a hold rating and one gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $109.67.
Sony Group Price Performance
Shares of NYSE:SONY opened at $71.37 on Thursday. The company’s fifty-day moving average price is $70.32 and its 200-day moving average price is $80.53. The company has a debt ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.47. The company has a market capitalization of $88.28 billion, a price-earnings ratio of 11.70, a PEG ratio of 2.06 and a beta of 0.95. Sony Group has a one-year low of $61.72 and a one-year high of $133.75.
Institutional entries and exits
Major investors have recently been buying and selling shares of the company. Theleme Partners LLP purchased a new position in Sony Group in Q1 worth approximately $69,098,000. AGF Investments Inc. increased its stake in Sony Group shares by 39.6% during the first quarter. AGF Investments Inc. now owns 1,535,680 shares of the company valued at $157,730,000 after purchasing an additional 435,542 shares last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new Sony Group equity stake during the first quarter at a value of $38,003,000. Renaissance Technologies LLC purchased a new stake in Sony Group in Q2 for a value of approximately $20,444,000. Finally, Aaron Wealth Advisors LLC increased its position in Sony Group by 10,993.0% in the 1st quarter. Aaron Wealth Advisors LLC now owns 243,936 shares of the company worth $2,375,000 after purchasing an additional 241,737 shares in the last quarter. 7.69% of the shares are held by hedge funds and other institutional investors.
About Sony Group
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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, Asia-Pacific and the international. The Company distributes software titles and complementary content through digital networks; network services relating to game, video and music content; and home and portable game consoles, embedded software and peripherals.
Further reading
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