Sony (SNE) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Sony (NYSE:SNE) from a neutral rating to a buy rating in a research note published on Friday morning, MarketBeat Ratings reports.

Several other analysts have also recently commented on the company. Credit Suisse Group upgraded Sony from a neutral rating to an outperform rating in a research report on Monday, September 10th. ValuEngine upgraded Sony from a hold rating to a buy rating in a research report on Tuesday, September 18th. Piper Jaffray Companies reiterated an overweight rating on shares of Sony in a research report on Friday, October 19th. Zacks Investment Research cut Sony from a buy rating to a hold rating in a research report on Tuesday, October 16th. Finally, Citigroup upgraded Sony from a neutral rating to a buy rating and set a $52.91 price target for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $67.07.

Sony stock opened at $52.82 on Friday. The company has a market capitalization of $66.74 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63. Sony has a 12 month low of $44.37 and a 12 month high of $61.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.79.

Sony (NYSE:SNE) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.29. Sony had a return on equity of 17.19% and a net margin of 7.70%. The business had revenue of $19.58 billion during the quarter. As a group, equities analysts predict that Sony will post 4.54 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Sony by 20.8% during the second quarter. Bank of America Corp DE now owns 4,111,969 shares of the company’s stock worth $210,780,000 after purchasing an additional 709,208 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sony by 639.4% during the third quarter. Bank of New York Mellon Corp now owns 1,807,688 shares of the company’s stock worth $109,636,000 after purchasing an additional 1,563,202 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sony by 37.1% during the third quarter. Renaissance Technologies LLC now owns 1,450,500 shares of the company’s stock worth $87,973,000 after purchasing an additional 392,800 shares in the last quarter. Boston Partners purchased a new stake in shares of Sony during the second quarter worth approximately $71,195,000. Finally, Northern Trust Corp increased its position in shares of Sony by 8.9% during the second quarter. Northern Trust Corp now owns 1,273,141 shares of the company’s stock worth $65,261,000 after purchasing an additional 104,499 shares in the last quarter. Hedge funds and other institutional investors own 7.66% of the company’s stock.

About Sony

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.

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Analyst Recommendations for Sony (NYSE:SNE)

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