Sony (SNE) Lowered to Hold at Jefferies Financial Group

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Sony (NYSE:SNE) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $44.04 target price on the stock, down from their prior target price of $77.62. Jefferies Financial Group’s target price would suggest a potential upside of 0.66% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Sony from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Monday, March 4th. Citigroup raised Sony from a “neutral” rating to a “buy” rating and set a $52.91 price target on the stock in a research report on Sunday, December 9th. JPMorgan Chase & Co. upgraded Sony from a “neutral” rating to a “buy” rating in a research note on Friday, November 30th. ValuEngine raised Sony from a “sell” rating to a “hold” rating in a report on Wednesday, December 12th. Finally, Macquarie cut Sony from an “outperform” rating to a “neutral” rating in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $52.54.

Sony stock traded down $1.78 during midday trading on Wednesday, reaching $43.75. 89,579 shares of the company were exchanged, compared to its average volume of 1,162,408. The stock has a market cap of $57.53 billion, a PE ratio of 13.33, a P/E/G ratio of 1.02 and a beta of 1.36. Sony has a 1 year low of $42.43 and a 1 year high of $61.02. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.12.

Sony (NYSE:SNE) last posted its quarterly earnings data on Friday, February 1st. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $1.03. The firm had revenue of $2,401.81 billion during the quarter, compared to analysts’ expectations of $2,676.17 billion. Sony had a return on equity of 20.21% and a net margin of 9.48%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $234.08 EPS. On average, equities analysts predict that Sony will post 5.53 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Enlightenment Research LLC bought a new stake in shares of Sony in the fourth quarter valued at approximately $34,000. NumerixS Investment Technologies Inc bought a new position in Sony in the 4th quarter valued at about $53,000. AdvisorNet Financial Inc bought a new position in Sony in the 4th quarter valued at about $91,000. Bremer Trust National Association purchased a new stake in Sony in the 4th quarter valued at about $96,000. Finally, Lindbrook Capital LLC purchased a new stake in Sony in the 4th quarter valued at about $148,000. 7.54% of the stock is currently owned by hedge funds and other institutional investors.

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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