Sony (SNE) Hits New 12-Month Low at $42.05

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Sony Corp (NYSE:SNE) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $42.05 and last traded at $42.25, with a volume of 1029292 shares trading hands. The stock had previously closed at $44.01.

A number of equities research analysts have issued reports on SNE shares. Citigroup upgraded shares of Sony from a “neutral” rating to a “buy” rating and set a $52.91 price target for the company in a report on Sunday, December 9th. Macquarie cut shares of Sony from an “outperform” rating to a “neutral” rating in a research note on Friday, February 1st. Jefferies Financial Group cut shares of Sony from a “buy” rating to a “hold” rating and reduced their target price for the company from $77.62 to $44.04 in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Sony from a “neutral” rating to a “buy” rating in a research note on Friday, November 30th. Finally, ValuEngine cut shares of Sony from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.32.

The firm has a market capitalization of $54.69 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 0.96 and a beta of 1.36. 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 issued its quarterly earnings results 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 business had revenue of $2,401.81 billion during the quarter, compared to analyst estimates of $2,676.17 billion. Sony had a net margin of 9.48% and a return on equity of 20.21%. Sony’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $234.08 earnings per share. On average, equities research analysts predict that Sony Corp will post 5.53 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Boston Partners boosted its position in shares of Sony by 42.6% during 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. 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 worth $109,636,000 after acquiring an additional 1,563,202 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Sony by 37.1% during the third quarter. Renaissance Technologies LLC now owns 1,450,500 shares of the company’s stock worth $87,973,000 after acquiring an additional 392,800 shares during the period. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Sony during the fourth quarter worth $51,675,000. Finally, NorthCoast Asset Management LLC raised its holdings in shares of Sony by 45.5% during the fourth quarter. NorthCoast Asset Management LLC now owns 581,890 shares of the company’s stock worth $28,094,000 after acquiring an additional 181,864 shares during the period. 7.54% of the stock is currently owned by hedge funds and other institutional investors.

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About Sony (NYSE:SNE)

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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