Sony Group (NYSE:SONY) Announces Earnings Results

Sony Group (NYSE:SONY) issued its earnings results on Thursday. The company reported $0.41 earnings per share (EPS) 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 Stock Performance

Shares of Sony Group stock traded up $1.21 during trading hours on Thursday, reaching $23.18. 3,855,764 shares of the stock traded hands, compared to its average volume of 3,706,135. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $140.19 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 11.46 and a beta of 0.96. The company has a 50 day moving average price of $21.35 and a 200 day moving average price of $14.92. Sony Group has a one year low of $15.02 and a one year high of $24.03.

Analysts Set New Price Targets

SONY has been the topic of several recent analyst reports. Oppenheimer dropped their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sony Group currently has a consensus rating of “Buy” and a consensus price target 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.