Sony (SONY - Free Report) closed at $106.12 in the latest trading session, marking a +1.43% move from the prior day. This move outpaced the S&P 500's daily gain of 1.17%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the electronics and media company had lost 0.18% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 5.02% and lagged the S&P 500's gain of 0.88% in that time.
Sony will be looking to display strength as it nears its next earnings release. On that day, Sony is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 3.7%. Our most recent consensus estimate is calling for quarterly revenue of $20.82 billion, down 0.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.39 per share and revenue of $89.16 billion. These totals would mark changes of -27.71% and +4.9%, respectively, from 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 2.34% higher within the past month. Sony is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sony is currently trading at a Forward P/E ratio of 16.37. This represents a premium compared to its industry's average Forward P/E of 12.06.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sony (SONY - Free Report) closed at $106.12 in the latest trading session, marking a +1.43% move from the prior day. This move outpaced the S&P 500's daily gain of 1.17%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the electronics and media company had lost 0.18% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 5.02% and lagged the S&P 500's gain of 0.88% in that time.
Sony will be looking to display strength as it nears its next earnings release. On that day, Sony is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 3.7%. Our most recent consensus estimate is calling for quarterly revenue of $20.82 billion, down 0.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.39 per share and revenue of $89.16 billion. These totals would mark changes of -27.71% and +4.9%, respectively, from 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 2.34% higher within the past month. Sony is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sony is currently trading at a Forward P/E ratio of 16.37. This represents a premium compared to its industry's average Forward P/E of 12.06.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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