Sony (SNE) Raised to Buy at Citigroup

Sony (NYSE:SNE) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report issued on Sunday. The firm presently has a $52.91 price target on the stock. Citigroup’s price target points to a potential upside of 3.48% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Sony from a “neutral” rating to a “buy” rating in a report on Friday, November 30th. ValuEngine lowered shares of Sony from a “hold” rating to a “sell” rating in a report on Monday, November 12th. Piper Jaffray Companies reissued an “overweight” rating on shares of Sony in a report on Friday, October 19th. Zacks Investment Research downgraded shares of Sony from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Credit Suisse Group upgraded shares of Sony from a “neutral” rating to an “outperform” rating in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.07.

SNE traded down $0.73 during trading hours on Friday, reaching $51.13. 635,018 shares of the stock traded hands, compared to its average volume of 914,229. The firm has a market cap of $64.61 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.12 and a beta of 1.62. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Sony has a fifty-two week low of $44.37 and a fifty-two week high of $61.02.

Sony (NYSE:SNE) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.29. The company had revenue of $19.58 billion during the quarter. Sony had a net margin of 7.70% and a return on equity of 17.19%. On average, analysts forecast that Sony will post 4.54 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Sony in the 3rd quarter worth about $107,000. First Hawaiian Bank bought a new stake in Sony in the 3rd quarter valued at about $120,000. Chicago Partners Investment Group LLC lifted its position in Sony by 60.3% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,380 shares of the company’s stock valued at $122,000 after purchasing an additional 895 shares during the last quarter. Financial Architects Inc bought a new stake in Sony in the 3rd quarter valued at about $133,000. Finally, Credit Agricole S A bought a new stake in Sony in the 2nd quarter valued at about $146,000. Institutional investors own 7.64% 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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