Sony Group (NYSE:SONY) Sets New 52-Week High Following Earnings Beat

Sony Group Co. (NYSE:SONY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $23.90 and last traded at $23.86, with a volume of 1208508 shares trading hands. The stock had previously closed at $21.97.

The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. The company had revenue of $28.95 billion during the quarter, compared to analysts' expectations of $24.32 billion.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SONY. StockNews.com cut shares of Sony Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 19th. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an "outperform" rating for the company. Finally, Oppenheimer cut their price objective on shares of Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Four research 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.com, Sony Group has a consensus rating of "Buy" and a consensus price target of $24.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Silicon Valley Capital Partners increased its holdings in 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 buying an additional 927 shares during the period. Capital Analysts LLC lifted its holdings in shares of Sony Group by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock worth $25,000 after acquiring an additional 936 shares during the period. General Partner Inc. lifted its holdings in shares of Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after acquiring an additional 996 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Sony Group during the 4th quarter worth approximately $26,000. Finally, Fairscale Capital LLC lifted its holdings in shares of Sony Group by 400.0% during the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock worth $26,000 after acquiring an additional 992 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Sony Group Stock Up 4.2 %

The firm has a 50 day simple moving average of $21.46 and a two-hundred day simple moving average of $15.28. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $146.08 billion, a P/E ratio of 19.77, a PEG ratio of 11.46 and a beta of 0.96.

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.