Sony Group (NYSE:SONY) Sets New 1-Year High – Time to Buy?

Sony Group Co. (NYSE:SONY) shares hit 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 traded. The stock had previously closed at $25.50.

Analyst Upgrades and Downgrades

SONY has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on shares of Sony Group in a research report on Tuesday. They set a “buy” rating on the stock. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock has a market cap of $154.88 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The business has a 50 day moving average price of $23.38 and a two-hundred day moving average price of $19.30.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. As a group, equities research analysts forecast that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Trading of Sony Group

Large investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its holdings in Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares during the period. Aristotle Capital Management LLC lifted its stake in Sony Group by 393.7% in the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after acquiring an additional 42,083,842 shares during the period. Fisher Asset Management LLC boosted its holdings in Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after acquiring an additional 36,783,737 shares in the last quarter. Bank of America Corp DE increased its position in Sony Group by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after purchasing an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI raised its holdings in Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock worth $218,382,000 after purchasing an additional 8,157,776 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

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.