Sony Group (NYSE:SONY) Raised to Strong-Buy at Daiwa America

Daiwa America upgraded shares of Sony Group (NYSE:SONY) to a strong-buy rating in a research report released on Wednesday, Zacks.com reports.

Separately, StockNews.com lowered shares of Sony Group from a buy rating to a hold rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $108.00.

Sony Group Stock Down 0.2 %

SONY stock opened at $93.09 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. Sony Group has a twelve month low of $75.11 and a twelve month high of $100.88. The company’s 50 day moving average is $90.94 and its two-hundred day moving average is $86.57. The stock has a market cap of $114.89 billion, a P/E ratio of 17.11 and a beta of 0.95.

Shares of Sony Group are set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, September 30th.

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

Hedge Funds Weigh In On Sony Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in shares of Sony Group by 16.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 786 shares of the company’s stock worth $74,000 after purchasing an additional 112 shares in the last quarter. American National Bank raised its stake in shares of Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after buying an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Sony Group by 1.5% during the 2nd 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 raised its stake in shares of Sony Group by 20.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock worth $64,000 after buying an additional 128 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its stake in shares of Sony Group by 1.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after buying an additional 128 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other 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.