Sony (SNE) Raised to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Sony (NYSE:SNE) from a hold rating to a buy rating in a report released on Monday morning, Briefing.com Automated Import reports. Jefferies Financial Group also issued estimates for Sony’s FY2019 earnings at $6.20 EPS, FY2020 earnings at $4.61 EPS and FY2021 earnings at $4.75 EPS.

A number of other equities analysts also recently commented on SNE. Zacks Investment Research upgraded Sony from a hold rating to a buy rating and set a $56.00 target price for the company in a report on Thursday, January 17th. Macquarie downgraded Sony from an outperform rating to a neutral rating in a report on Friday, February 1st. ValuEngine downgraded Sony from a hold rating to a sell rating in a report on Saturday, February 2nd. Finally, CLSA restated a buy rating on shares of Sony in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $50.32.

NYSE:SNE opened at $47.74 on Monday. The company has a market cap of $60.21 billion, a PE ratio of 14.51, a P/E/G ratio of 2.06 and a beta of 1.33. Sony has a fifty-two week low of $41.91 and a fifty-two week high of $61.02. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.12.

Sony (NYSE:SNE) last released its quarterly earnings data on Friday, February 1st. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.03. The firm had revenue of $2,401.81 billion during the quarter, compared to analyst estimates of $2,676.17 billion. Sony had a return on equity of 20.21% and a net margin of 9.48%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $234.08 earnings per share. Sell-side analysts anticipate that Sony will post 6.07 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in SNE. Bank of New York Mellon Corp raised its holdings in shares of Sony by 639.4% during the third quarter. Bank of New York Mellon Corp now owns 1,807,688 shares of the company’s stock valued at $109,636,000 after acquiring an additional 1,563,202 shares in the last quarter. Menora Mivtachim Holdings LTD. bought a new position in Sony in the fourth quarter worth $51,675,000. Boston Partners raised its holdings in Sony by 42.6% in the fourth quarter. Boston Partners now owns 2,018,740 shares of the company’s stock worth $97,464,000 after purchasing an additional 602,923 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Sony in the fourth quarter worth $23,021,000. Finally, LMR Partners LLP bought a new position in Sony in the fourth quarter worth $19,478,000. Institutional investors own 7.55% 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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Analyst Recommendations for Sony (NYSE:SNE)

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