Sony Group (NYSE:SONY) Sets New 52-Week High – Still a Buy?

Sony Group Co. (NYSE:SONY) shares reached a new 52-week high on Thursday . The stock traded as high as $25.78 and last traded at $25.69, with a volume of 1199775 shares traded. The stock had previously closed at $25.50.

Analyst Ratings Changes

Several analysts have recently issued reports on SONY shares. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group started coverage on Sony Group in a report on Tuesday. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sony Group has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Up 0.4 %

The company’s 50 day simple moving average is $23.38 and its 200-day simple moving average is $19.30. The firm has a market capitalization of $154.88 billion, a PE ratio of 20.79, a PEG ratio of 9.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. On average, analysts forecast that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd grew its stake in Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after buying an additional 28,852 shares in the last quarter. Bfsg LLC bought a new stake in shares of Sony Group during the 4th quarter worth $6,125,000. Fifth Third Bancorp grew its position in Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after acquiring an additional 119,362 shares in the last quarter. West Family Investments Inc. increased its stake in Sony Group by 392.9% in the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock valued at $566,000 after acquiring an additional 21,303 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its position in Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after purchasing an additional 32,725 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.