Sony Group (NYSE:SONY - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.
Sony Group Stock Performance
Shares of Sony Group stock traded up $2.01 during trading on Wednesday, reaching $92.80. The company's stock had a trading volume of 826,622 shares, compared to its average volume of 849,428. The business's 50-day moving average price is $87.22 and its 200-day moving average price is $86.09. Sony Group has a 52 week low of $75.11 and a 52 week high of $100.88. The firm has a market cap of $114.54 billion, a PE ratio of 17.06 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26.
Sony Group shares are going to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the closing bell on Monday, September 30th.
Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Equities analysts forecast that Sony Group will post 5.68 earnings per share for the current year.
Hedge Funds Weigh In On Sony Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Sony Group in the second quarter worth $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group during the first quarter worth about $29,000. Rise Advisors LLC lifted its stake in shares of Sony Group by 259.2% in the first quarter. Rise Advisors LLC now owns 352 shares of the company's stock worth $30,000 after acquiring an additional 254 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in Sony Group in the fourth quarter valued at approximately $34,000. Finally, Ridgewood Investments LLC bought a new position in Sony Group during the 2nd quarter worth approximately $41,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.
Sony Group Company Profile
(
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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, 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.
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