Sony Group (NYSE: SONY – Get Note) had its target price raised by Cowen stock analysts from $102.00 to $118.00 in a research note released Friday to investors, reports The Fly. Cowen’s price target indicates a potential upside of 25.80% from the company’s previous close.
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Several other research companies have also weighed in on SONY recently. Cowen lowered his price target on Sony Group shares from $144.00 to $102.00 in a Wednesday, November 2 research report. TheStreet upgraded Sony Group shares from a “c+” rating to a “b-” rating in a Monday, Dec. 5 research note. Finally, StockNews.com began covering Sony Group stocks in a research note on Wednesday, October 12. They set a “hold” rating for the company. Three analysts gave the stock a hold rating and one gave the stock a buy rating. Based on data from MarketBeat.com, Sony Group currently has an average rating of “Hold” and an average target price of $115.00.
Sony Group stock up 4.7%
Sony Group shares opened at $93.80 on Friday. The company has a market capitalization of $116.03 billion, a P/E ratio of 15.38, a PEG ratio of 2.88 and a beta of 1.03. Sony Group has a 52-week low of $61.72 and a 52-week high of $111.98. The company has a quick ratio of 0.43, a current ratio of 0.58 and a leverage ratio of 0.19. The company’s 50-day moving average price is $82.39 and its 200-day moving average price is $78.53.
Sony Group (NYSE:SONY – Get Rating) last released its results on Tuesday, November 1. The company reported earnings per share of $1.54 for the quarter, beating the consensus estimate of $1.07 by $0.47. The company posted revenue of $19.93 billion for the quarter, versus a consensus estimate of $21.17 billion. Sony Group had a net margin of 9.05% and a return on equity of 12.23%. On average, sell-side analysts expect Sony Group to post an EPS of 5.4 for the current fiscal year.
Hedge funds weigh on the Sony group
Several large investors have recently changed their positions in the company. Fisher Asset Management LLC increased its stake in Sony Group shares by 1,876.1% in Q3. Fisher Asset Management LLC now owns 4,743,413 shares of the company valued at $303,816,000 after purchasing an additional 4,503,375 shares during the period. Boston Partners increased its stake in Sony Group shares by 1.5% in the third quarter. Boston Partners now owns 1,722,784 shares of the company valued at $111,064,000 after purchasing an additional 25,191 shares during the period. Anomaly Capital Management LP increased its position in Sony Group by 0.5% during the third quarter. Anomaly Capital Management LP now owns 1,659,440 shares of the company worth $106,287,000 after acquiring an additional 7,880 shares during the period. BlackRock Inc. increased its position in Sony Group by 0.8% during the first quarter. BlackRock Inc. now owns 1,510,796 shares of the company worth $155,174,000 after acquiring an additional 11,272 shares during the period. Finally, Clearbridge Investments LLC increased its position in Sony Group by 1.8% during the second quarter. Clearbridge Investments LLC now owns 798,372 shares of the company worth $65,283,000 after acquiring an additional 14,222 shares during the period. 7.74% of the shares are currently held by institutional investors and hedge funds.
About Sony Group
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Sony Group Corp. engages in the development, design, manufacture and sale of electronic equipment, instruments, appliances, game consoles and software for consumer, professional and industrial markets. It operates through the following segments: games and network services, music, images, home entertainment and sound, imaging products and solutions, mobile communications, semiconductors, financial services and others.
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