Sony Group (NYSE:SONY) Reaches New 12-Month High – Still a Buy?

Sony Group Co. (NYSE:SONY) shares hit a new 52-week high on Wednesday . The stock traded as high as $24.88 and last traded at $24.50, with a volume of 7069426 shares changing hands. The stock had previously closed at $24.14.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday. Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market cap of $150.74 billion, a P/E ratio of 20.23, a P/E/G ratio of 9.98 and a beta of 0.96. The business’s 50-day simple moving average is $21.68 and its 200 day simple moving average is $15.71.

Sony Group (NYSE:SONY) last posted its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, equities analysts predict that Sony Group Co. will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new position in shares of Sony Group during the 4th quarter worth $7,800,000. Forum Financial Management LP boosted its stake in shares of Sony Group by 536.0% during the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company’s stock worth $2,439,000 after acquiring an additional 97,130 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Sony Group during the 4th quarter worth $389,000. Toronto Dominion Bank boosted its stake in shares of Sony Group by 400.0% during the 4th quarter. Toronto Dominion Bank now owns 9,500 shares of the company’s stock worth $201,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Sony Group during the 4th quarter worth $543,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.