Sony Group (NYSE:SONY) Receives Outperform Rating from Oppenheimer

Sony Group (NYSE:SONY)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a report released on Thursday,Benzinga reports. They presently have a $33.00 price objective on the stock, up from their prior price objective of $25.00. Oppenheimer’s price target would suggest a potential upside of 32.98% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.00.

Sony Group Price Performance

Sony Group stock traded up $0.10 during trading hours on Thursday, hitting $24.82. 932,513 shares of the company traded hands, compared to its average volume of 3,857,767. The firm has a market cap of $150.07 billion, a P/E ratio of 20.14, a P/E/G ratio of 9.90 and a beta of 0.96. 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’s 50-day simple moving average is $21.63 and its two-hundred day simple moving average is $15.64. Sony Group has a 1-year low of $15.02 and a 1-year high of $24.95.

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

Institutional Trading of Sony Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Y.D. More Investments Ltd boosted its position in Sony Group by 400.0% during the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after acquiring an additional 28,852 shares during the last quarter. Bfsg LLC bought a new position in shares of Sony Group during the fourth quarter worth approximately $6,125,000. Fifth Third Bancorp increased its holdings in shares of Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after purchasing an additional 119,362 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Sony Group by 430.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after acquiring an additional 32,725 shares in the last quarter. Finally, One Wealth Advisors LLC boosted its position in shares of Sony Group by 400.9% during the 4th quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock worth $729,000 after acquiring an additional 27,593 shares in the last quarter. 14.05% of the stock is owned by 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.