Sony Corp Ord (SNE) Lowered to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of Sony Corp Ord (NYSE:SNE) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday.

A number of other equities analysts also recently weighed in on SNE. BidaskClub upgraded Sony Corp Ord from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded Sony Corp Ord from a hold rating to a sell rating in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a buy rating and issued a $45.74 target price on shares of Sony Corp Ord in a report on Thursday, August 3rd. Citigroup Inc. downgraded Sony Corp Ord from a buy rating to a neutral rating and dropped their target price for the company from $40.60 to $39.93 in a report on Monday, September 11th. Finally, Credit Suisse Group downgraded Sony Corp Ord from an outperform rating to a neutral rating in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $43.42.

Sony Corp Ord (SNE) traded down 0.82% during midday trading on Wednesday, reaching $36.32. 871,414 shares of the company were exchanged. Sony Corp Ord has a 52-week low of $27.72 and a 52-week high of $41.65. The firm’s 50-day moving average price is $38.17 and its 200 day moving average price is $37.15. The stock has a market capitalization of $45.88 billion, a price-to-earnings ratio of 38.11 and a beta of 1.75.

Sony Corp Ord (NYSE:SNE) last issued its earnings results on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $1,858.10 billion for the quarter, compared to the consensus estimate of $1,735.86 billion. Sony Corp Ord had a return on equity of 4.17% and a net margin of 1.67%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $16.44 EPS. Equities analysts predict that Sony Corp Ord will post $2.21 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its holdings in Sony Corp Ord by 5.6% in the second quarter. Proficio Capital Partners LLC now owns 2,643 shares of the company’s stock worth $105,000 after buying an additional 139 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Sony Corp Ord in the second quarter worth approximately $119,000. Parallax Volatility Advisers L.P. increased its holdings in Sony Corp Ord by 206.3% in the second quarter. Parallax Volatility Advisers L.P. now owns 4,354 shares of the company’s stock worth $166,000 after buying an additional 8,451 shares during the last quarter. Opes Advisors Inc acquired a new position in Sony Corp Ord in the second quarter worth approximately $206,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in Sony Corp Ord in the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 6.54% of the company’s stock.

Sony Corp Ord 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.

Analyst Recommendations for Sony Corp Ord (NYSE:SNE)

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