Sony Stock Gains Ground As Q3 Revenue Estimates Shift
Sony shares rose 1.4% to $23.82 in the latest close session, outperforming the S&P 500’s daily gain of 0.73%. The electronics and media company’s stock movement comes as market participants prepare for upcoming financial results, with consensus estimates projecting revenue of $19.93 billion for the quarter. That figure marks a 5.46% decline compared to the equivalent quarter last year.
Valuation And Market Metrics For Sony Shares
Trading at a Forward P/E ratio of 16.63, Sony sits above its industry’s average Forward P/E of 15.39. The company holds a PEG ratio of 1.7, matching the Audio Video Production industry average at the close of trade yesterday. That industry currently carries a Zacks Industry Rank of 233, placing it in the bottom 6% of more than 250 tracked industries.
Zacks Projects Earnings Increase Despite Revenue Drop
For the full annual period, Zacks Consensus Estimates project earnings of $1.41 per share on revenue of $81.26 billion. Those figures represent a 23.68% increase in earnings and a 1.98% drop in revenue compared to the previous year. Over the past month, the Zacks Consensus EPS estimate remained steady, leaving Sony with a Zacks Rank #3 Hold rating.
Sony Financial Performance Questions
What drove the recent stock movement for Sony?
Sony shares increased by 1.4% to reach $23.82 in the latest close session, beating the S&P 500’s 0.73% daily gain. The move arrived alongside a broader 5.89% monthly decline for the company’s shares.
What do analysts project for Sony’s upcoming quarterly revenue?
Consensus estimates project quarterly revenue of $19.93 billion, which represents a 5.46% fall from the same period last year.
What is Sony’s current Zacks Rank and valuation?
Sony holds a Zacks Rank #3 Hold rating with a Forward P/E ratio of 16.63. Its valuation sits alongside a PEG ratio of 1.7, matching the average for the Audio Video Production industry.
Keep reading