Sony Group (NYSE:SONY) Rating Lowered to Hold at StockNews.com

Sony Group (NYSE:SONY - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.

Other analysts have also issued reports about the company. TD Cowen lowered their price objective on Sony Group from $107.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Daiwa America upgraded shares of Sony Group to a "strong-buy" rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.30.

Sony Group Price Performance

NYSE:SONY traded down $0.17 during mid-day trading on Thursday, reaching $18.51. 1,656,100 shares of the company were exchanged, compared to its average volume of 3,965,316. Sony Group has a 12 month low of $15.02 and a 12 month high of $20.18. The stock has a market cap of $111.94 billion, a PE ratio of 17.20 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. The company has a fifty day moving average of $29.37 and a 200 day moving average of $21.23.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, research analysts anticipate that Sony Group will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American National Bank boosted its stake in Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company's stock worth $100,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Sony Group by 1.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company's stock valued at $735,000 after buying an additional 124 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Sony Group by 20.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 749 shares of the company's stock valued at $64,000 after buying an additional 128 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Sony Group by 1.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company's stock worth $787,000 after buying an additional 128 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Sony Group by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company's stock worth $713,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 14.05% of the company's stock.

About Sony Group

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.