Sony Corp (SNE) Given Consensus Recommendation of “Buy” by Brokerages

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

SNE has been the subject of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $59.84 price target on shares of Sony in a report on Friday, November 17th. Morgan Stanley cut Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Citigroup cut Sony from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.60 to $39.93 in a report on Monday, September 11th. Zacks Investment Research cut Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Credit Suisse Group cut Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th.

A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in Sony by 56.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,770,826 shares of the company’s stock worth $67,628,000 after buying an additional 636,926 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Sony by 68.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock worth $51,505,000 after buying an additional 562,627 shares in the last quarter. Minneapolis Portfolio Management Group LLC increased its stake in Sony by 0.4% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 1,215,399 shares of the company’s stock worth $45,383,000 after buying an additional 4,278 shares in the last quarter. Northern Trust Corp increased its stake in Sony by 0.3% during the 2nd quarter. Northern Trust Corp now owns 1,114,925 shares of the company’s stock worth $42,579,000 after buying an additional 3,463 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Sony by 256.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock worth $37,772,000 after buying an additional 732,847 shares in the last quarter. Institutional investors own 6.77% of the company’s stock.

Sony (NYSE SNE) traded up $0.27 during midday trading on Monday, reaching $45.68. The company had a trading volume of 453,300 shares, compared to its average volume of 851,196. The firm has a market cap of $57,378.13, a PE ratio of 25.66 and a beta of 1.78. Sony has a 12 month low of $27.91 and a 12 month high of $48.33. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

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About Sony

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 (NYSE:SNE)

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