Sony Group (NYSE:SONY) Posts Earnings Results, Beats Expectations By $0.14 EPS

Sony Group (NYSE:SONY) posted its quarterly earnings data on Thursday. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14, Zacks reports. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. The firm had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group updated its FY 2024 guidance to EPS.

Sony Group Stock Performance

Shares of NYSE SONY traded up $0.97 during trading on Friday, reaching $24.16. 5,032,566 shares of the company traded hands, compared to its average volume of 3,630,980. The firm’s fifty day simple moving average is $21.46 and its 200 day simple moving average is $15.12. The stock has a market cap 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 has a 12-month low of $15.02 and a 12-month high of $24.25. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SONY. Oppenheimer lowered their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.00.

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.