Sony Group (NYSE:SONY) Hits New 12-Month High – Here’s What Happened

Shares of Sony Group Co. (NYSE:SONY) hit a new 52-week high on Friday . The stock traded as high as $20.26 and last traded at $20.25, with a volume of 2432063 shares traded. The stock had previously closed at $18.27.

Analysts Set New Price Targets

Several brokerages recently commented on SONY. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, TD Cowen reduced their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.66.

Sony Group Stock Performance

The company has a market capitalization of $123.61 billion, a PE ratio of 18.82 and a beta of 0.95. 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 50-day moving average price of $12.25 and a two-hundred day moving average price of $6.49.

Sony Group (NYSE:SONY) last announced its earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Analysts predict that Sony Group Co. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Sony Group

A number of institutional investors have recently made changes to their positions in SONY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sony Group in the second quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in shares of Sony Group during the second quarter valued at about $41,000. Family Firm Inc. purchased a new stake in shares of Sony Group during the second quarter worth about $44,000. Hobbs Group Advisors LLC purchased a new position in Sony Group during the 2nd quarter valued at about $49,000. Finally, Hexagon Capital Partners LLC raised its position in Sony Group by 38.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.