Brokerages Set Sony Corp (SNE) Target Price at $46.92

Sony Corp (NYSE:SNE) has been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $46.92.

A number of equities research analysts have recently weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $59.84 price target on shares of Sony in a research note on Friday, November 17th. Zacks Investment Research lowered Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley lowered Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Credit Suisse Group lowered Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Finally, Citigroup lowered Sony from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.60 to $39.93 in a report on Monday, September 11th.

Several large investors have recently made changes to their positions in SNE. Bank of New York Mellon Corp lifted its position in shares of Sony by 105.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 816,725 shares of the company’s stock worth $31,191,000 after buying an additional 419,493 shares during the period. Allen Investment Management LLC raised its position in Sony by 60.5% in the 2nd quarter. Allen Investment Management LLC now owns 20,132 shares of the company’s stock valued at $769,000 after purchasing an additional 7,590 shares during the last quarter. Athos Capital Ltd raised its position in Sony by 280.0% in the 3rd quarter. Athos Capital Ltd now owns 34,200 shares of the company’s stock valued at $2,937,000 after purchasing an additional 25,200 shares during the last quarter. Columbia Asset Management raised its position in Sony by 11.8% in the 2nd quarter. Columbia Asset Management now owns 33,870 shares of the company’s stock valued at $1,293,000 after purchasing an additional 3,575 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Sony in the 3rd quarter valued at $1,650,000. 6.78% of the stock is currently owned by institutional investors.

Sony (SNE) traded down $1.24 on Thursday, hitting $45.56. The stock had a trading volume of 2,193,249 shares, compared to its average volume of 873,000. Sony has a 52 week low of $27.72 and a 52 week high of $48.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.71. The stock has a market cap of $57,567.66, a P/E ratio of 25.60 and a beta of 1.78.

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Sony Company Profile

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.

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