Sony (NYSE:SONY) Releases Quarterly Earnings Results

Sony (NYSE:SONYGet Free Report) announced its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.13), reports. Sony had a negative net margin of 1.44% and a positive return on equity of 13.59%. The company had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.43 billion. During the same quarter last year, the business posted $32.86 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.

Sony Price Performance

Shares of Sony stock traded up $0.21 during trading on Friday, reaching $20.10. The company’s stock had a trading volume of 13,243,571 shares, compared to its average volume of 5,867,466. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. Sony has a 12-month low of $19.63 and a 12-month high of $30.34. The company has a market capitalization of $119.55 billion, a P/E ratio of -100.47, a price-to-earnings-growth ratio of 6.72 and a beta of 0.92. The business has a 50 day moving average price of $21.00 and a 200-day moving average price of $24.18.

Trending Headlines about Sony

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Analyst Upgrades and Downgrades

SONY has been the topic of several analyst reports. Weiss Ratings downgraded Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.00.

Read Our Latest Stock Report on SONY

Institutional Trading of Sony

A number of institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in shares of Sony by 45.1% in the fourth quarter. Hsbc Holdings PLC now owns 12,966 shares of the company’s stock valued at $332,000 after buying an additional 4,032 shares in the last quarter. Compound Planning Inc. boosted its stake in shares of Sony by 5.9% in the fourth quarter. Compound Planning Inc. now owns 116,478 shares of the company’s stock valued at $2,982,000 after buying an additional 6,521 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Sony by 2.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 317,393 shares of the company’s stock valued at $8,125,000 after buying an additional 6,393 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Sony by 5.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 32,519 shares of the company’s stock worth $832,000 after purchasing an additional 1,689 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Sony by 31.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 10,393 shares of the company’s stock worth $266,000 after purchasing an additional 2,472 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

About Sony

(Get Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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Earnings History for Sony (NYSE:SONY)

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