Sony (SONY) Gains As Market Dips: What You Should Know
The latest trading session saw Sony (SONY) ending at $95.66, denoting a +0.85% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The electronics and media company's shares have seen an increase of 5.33% over the last month, not keeping up with the Consumer Discretionary sector's gain of 6.56% and outstripping the S&P 500's gain of 4.3%.
The investment community will be paying close attention to the earnings performance of Sony in its upcoming release. The company is forecasted to report an EPS of $0.28, showcasing a 75% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $20.33 billion, indicating a 7.69% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.03 per share and a revenue of $90.07 billion, signifying shifts of -44.3% and +6.77%, respectively, from the last year.
Any recent changes to analyst estimates for Sony should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 36.14% lower within the past month. Sony presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Sony is presently being traded at a Forward P/E ratio of 31.28. For comparison, its industry has an average Forward P/E of 28.3, which means Sony is trading at a premium to the group.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sony Corporation (SONY) : Free Stock Analysis Report