Sony Corp Forecasted to Post FY2022 Earnings of $4.71 Per Share (NYSE:SNE)

Sony Corp (NYSE:SNE) – Stock analysts at Jefferies Financial Group issued their FY2022 earnings per share estimates for shares of Sony in a research report issued to clients and investors on Tuesday, June 4th, Zacks Investment Research reports. Jefferies Financial Group analyst A. Goyal anticipates that the company will earn $4.71 per share for the year. Jefferies Financial Group currently has a “Buy” rating on the stock.

Sony (NYSE:SNE) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.43. The firm had revenue of $2,127.50 billion for the quarter, compared to the consensus estimate of $2,040.96 billion. Sony had a net margin of 10.54% and a return on equity of 21.78%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $41.20 EPS.

Several other equities analysts have also recently weighed in on SNE. ValuEngine upgraded shares of Sony from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Macquarie upgraded shares of Sony from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut shares of Sony from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Finally, CLSA reiterated a “buy” rating on shares of Sony in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Sony presently has a consensus rating of “Buy” and an average target price of $50.32.

Shares of NYSE SNE traded down $0.31 during trading on Thursday, reaching $52.39. 886,331 shares of the company traded hands, compared to its average volume of 1,575,268. The firm’s 50 day moving average price is $50.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.76. The stock has a market capitalization of $66.20 billion, a PE ratio of 8.15, a PEG ratio of 1.80 and a beta of 1.39. Sony has a 52-week low of $41.91 and a 52-week high of $61.02.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sony during the 4th quarter worth approximately $2,607,000. LMR Partners LLP bought a new stake in Sony during the 4th quarter worth approximately $19,478,000. LPL Financial LLC raised its stake in Sony by 3.6% during the 4th quarter. LPL Financial LLC now owns 35,481 shares of the company’s stock worth $1,713,000 after acquiring an additional 1,232 shares during the period. Bailard Inc. raised its stake in Sony by 16.7% during the 1st quarter. Bailard Inc. now owns 48,965 shares of the company’s stock worth $2,068,000 after acquiring an additional 6,999 shares during the period. Finally, AdvisorNet Financial Inc bought a new stake in Sony during the 4th quarter worth approximately $91,000. Institutional investors own 7.83% of the company’s stock.

About Sony

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.

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