Sony Corp (NYSE:SNE) – Analysts at Jefferies Group boosted their FY2019 earnings per share estimates for shares of Sony in a research report issued to clients and investors on Monday. Jefferies Group analyst A. Goyal now forecasts that the company will post earnings per share of $4.51 for the year, up from their previous estimate of $4.50. Jefferies Group has a “Buy” rating and a $59.84 price target on the stock. Jefferies Group also issued estimates for Sony’s FY2020 earnings at $5.08 EPS.
Several other equities research analysts have also recently issued reports on SNE. Zacks Investment Research cut shares of Sony from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. ValuEngine raised shares of Sony from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of Sony from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.19.
Sony (NYSE:SNE) last announced its earnings results on Friday, February 2nd. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.74. Sony had a net margin of 6.29% and a return on equity of 15.00%. The company had revenue of $2,672.32 billion for the quarter, compared to analysts’ expectations of $2,560.40 billion. During the same quarter in the previous year, the company posted $15.55 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Sony during the 4th quarter worth $88,068,000. Deutsche Bank AG raised its holdings in shares of Sony by 132.4% during the 4th quarter. Deutsche Bank AG now owns 1,516,484 shares of the company’s stock worth $68,165,000 after acquiring an additional 863,884 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Sony by 68.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock worth $51,505,000 after acquiring an additional 562,627 shares during the period. Minneapolis Portfolio Management Group LLC raised its holdings in shares of Sony by 0.4% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 1,215,399 shares of the company’s stock worth $45,383,000 after acquiring an additional 4,278 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Sony by 256.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock worth $37,772,000 after acquiring an additional 732,847 shares during the period. 6.85% of the stock is currently owned by institutional investors.
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Sony Company Profile
Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Semiconductors, Component, Films, Music, Financial Services and All Other.
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