Sony Group (NYSE:SONY) Sets New 1-Year High - What's Next?

Sony Group Co. (NYSE:SONY - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.88 and last traded at $24.50, with a volume of 7069426 shares changing hands. The stock had previously closed at $24.14.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SONY shares. StockNews.com downgraded Sony Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an "outperform" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a report on Thursday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sony Group has an average rating of "Buy" and an average price target of $28.00.

Sony Group Price Performance

The stock has a market capitalization of $150.01 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 9.98 and a beta of 0.96. The company has a fifty day simple moving average of $21.68 and a 200 day simple moving average of $15.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Equities research analysts forecast that Sony Group Co. will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SONY. Silicon Valley Capital Partners lifted its stake in shares of Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after purchasing an additional 927 shares during the period. Capital Analysts LLC increased its position in Sony Group by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after buying an additional 936 shares in the last quarter. General Partner Inc. increased its position in Sony Group by 400.0% in the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Sony Group in the 4th quarter valued at about $26,000. Finally, Fairscale Capital LLC increased its position in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock valued at $26,000 after buying an additional 992 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Company Profile

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.