Citigroup Inc. Downgrades Sony Corp Ord (SNE) to Neutral

Sony Corp Ord (NYSE:SNE) was downgraded by investment analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued on Monday.

Several other research firms have also weighed in on SNE. Zacks Investment Research upgraded shares of Sony Corp Ord from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $45.74 price objective on shares of Sony Corp Ord in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Sony Corp Ord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Sony Corp Ord presently has an average rating of “Buy” and an average price target of $44.58.

Shares of Sony Corp Ord (NYSE:SNE) opened at 39.93 on Monday. The firm’s 50-day moving average is $39.62 and its 200-day moving average is $36.09. Sony Corp Ord has a 12-month low of $27.72 and a 12-month high of $41.65. The company has a market capitalization of $50.44 billion, a PE ratio of 42.30 and a beta of 1.77.

Sony Corp Ord (NYSE:SNE) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $1,858.10 billion for the quarter, compared to analyst estimates of $1,735.86 billion. Sony Corp Ord had a net margin of 1.67% and a return on equity of 4.17%. Sony Corp Ord’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $16.44 EPS. On average, equities research analysts anticipate that Sony Corp Ord will post $2.21 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC grew its stake in Sony Corp Ord by 5.6% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,643 shares of the company’s stock valued at $105,000 after buying an additional 139 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Sony Corp Ord in the 2nd quarter valued at about $119,000. Parallax Volatility Advisers L.P. grew its stake in Sony Corp Ord by 206.3% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 4,354 shares of the company’s stock valued at $166,000 after buying an additional 8,451 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Sony Corp Ord by 1.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,103 shares of the company’s stock valued at $172,000 after buying an additional 53 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in Sony Corp Ord in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 6.54% of the company’s stock.

About Sony Corp Ord

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.

Analyst Recommendations for Sony Corp Ord (NYSE:SNE)

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