Oppenheimer Reaffirms “Outperform” Rating for Sony Group (NYSE:SONY)

Sony Group (NYSE:SONY)‘s stock had its “outperform” rating restated by research analysts at Oppenheimer in a report released on Thursday,Benzinga reports. They currently have a $33.00 price objective on the stock, up from their prior price objective of $25.00. Oppenheimer’s price objective suggests a potential upside of 32.98% from the company’s current price.

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

Sony Group Stock Performance

Shares of NYSE SONY traded up $0.10 during trading on Thursday, reaching $24.82. 932,513 shares of the company traded hands, compared to its average volume of 3,857,767. 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 stock has a market capitalization of $150.07 billion, a PE ratio of 20.14, a P/E/G ratio of 9.90 and a beta of 0.96. The firm has a 50 day simple moving average of $21.63 and a 200-day simple moving average of $15.64. Sony Group has a 52-week low of $15.02 and a 52-week high of $24.95.

Sony Group (NYSE:SONY) last released 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. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Equities research analysts anticipate that Sony Group will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

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