Daiwa America Upgrades Sony Group (NYSE:SONY) to “Strong-Buy”

Sony Group (NYSE:SONY) was upgraded by analysts at Daiwa America to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports.

Separately, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Performance

SONY opened at $93.24 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The company has a market capitalization of $115.08 billion, a PE ratio of 17.14 and a beta of 0.95. The business has a fifty day simple moving average of $91.05 and a 200 day simple moving average of $86.47. Sony Group has a 1 year low of $75.11 and a 1 year high of $100.88.

Shares of Sony Group are set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be payable to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Research analysts expect that Sony Group will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Sony Group

Several institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. grew its stake in Sony Group by 16.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 786 shares of the company’s stock valued at $74,000 after acquiring an additional 112 shares during the period. American National Bank increased 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 valued at $100,000 after purchasing an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Sony Group by 1.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock worth $735,000 after buying an additional 124 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Sony Group by 20.6% in the first 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. Finally, Belpointe Asset Management LLC grew its holdings in shares of Sony Group by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after buying an additional 128 shares during 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.