Sony Group (NYSE:SONY) Reaches New 1-Year High – Here’s What Happened

Sony Group Co. (NYSE:SONY) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.78 and last traded at $25.69, with a volume of 1199775 shares trading hands. The stock had previously closed at $25.50.

Analyst Ratings Changes

A number of brokerages have recently commented on SONY. Sanford C. Bernstein assumed coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Sony Group in a research note on Tuesday. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $28.00.

Sony Group Price Performance

The firm’s fifty day simple moving average is $23.58 and its two-hundred day simple moving average is $19.50. 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 firm has a market cap of $151.83 billion, a PE ratio of 20.38, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Institutional Trading of Sony Group

Hedge funds have recently modified their holdings of the company. Silicon Valley Capital Partners raised its stake in Sony Group by 401.3% during the fourth 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 in the last quarter. Capital Analysts LLC increased its holdings in shares of Sony Group by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after buying an additional 936 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sony Group during the 4th quarter valued at about $26,000. Fairscale Capital LLC lifted its holdings in shares of 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 acquiring an additional 992 shares during the last quarter. Finally, General Partner Inc. grew its position in Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after acquiring an additional 996 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

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.