Sony Group (NYSE:SONY) Issues Quarterly Earnings Results

Sony Group (NYSE:SONY) issued its earnings results on Thursday. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14, Zacks reports. Sony Group had a net margin of 8.55% and a return on equity of 14.27%. Sony Group updated its FY 2024 guidance to EPS.

Sony Group Trading Up 5.5 %

SONY traded up $1.21 on Thursday, reaching $23.18. 3,855,764 shares of the company traded hands, compared to its average volume of 3,706,135. The company has a market cap of $140.19 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 11.46 and a beta of 0.96. The firm has a fifty day simple moving average of $21.35 and a two-hundred day simple moving average of $14.92. Sony Group has a one year low of $15.02 and a one year high of $24.03. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Wall Street Analysts Forecast Growth

SONY has been the topic of several recent analyst reports. Oppenheimer decreased their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sony Group has an average rating of “Buy” and an average target price of $24.00.

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.