Sony Corp (NYSE:SNE) was the target of a large drop in short interest during the month of September. As of September 28th, there was short interest totalling 758,160 shares, a drop of 59.1% from the September 14th total of 1,855,830 shares. Based on an average trading volume of 1,304,747 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the company’s shares are sold short.
Shares of SNE opened at $57.50 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.92. Sony has a twelve month low of $36.83 and a twelve month high of $61.02. The company has a market capitalization of $76.63 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.05 and a beta of 1.41.
Sony (NYSE:SNE) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.44. Sony had a net margin of 7.32% and a return on equity of 16.74%. The firm had revenue of $1,953.62 billion for the quarter, compared to analyst estimates of $1,882.28 billion. During the same quarter in the previous year, the firm posted $62.70 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that Sony will post 4.17 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Hawaiian Bank bought a new position in Sony in the third quarter valued at approximately $120,000. Sageworth Trust Co bought a new stake in shares of Sony in the second quarter worth $103,000. Braun Bostich & Associates Inc. bought a new stake in shares of Sony in the first quarter worth $115,000. Chicago Partners Investment Group LLC lifted its position in shares of Sony by 60.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,380 shares of the company’s stock worth $122,000 after purchasing an additional 895 shares in the last quarter. Finally, Credit Agricole S A bought a new stake in shares of Sony in the second quarter worth $146,000. 7.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on SNE. ValuEngine raised shares of Sony from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research lowered shares of Sony from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Credit Suisse Group raised shares of Sony from a “neutral” rating to an “outperform” rating in a research note on Monday, September 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sony has a consensus rating of “Hold” and a consensus target price of $74.15.
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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