In the latest trading session, Sony (SNE) closed at $55.40, marking a +1.11% move from the previous day. This change outpaced the S&P 500's 0.47% gain on the day. Meanwhile, the Dow gained 0.95%, and the Nasdaq, a tech-heavy index, added 2.3%.
Coming into today, shares of the electronics and media company had lost 18.31% in the past month. In that same time, the Consumer Discretionary sector lost 36.4%, while the S&P 500 lost 28.7%.
SNE will be looking to display strength as it nears its next earnings release. In that report, analysts expect SNE to post earnings of $0.34 per share. This would mark a year-over-year decline of 45.16%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.38 per share and revenue of $78.21 billion. These totals would mark changes of -31.88% and +0.12%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SNE. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. SNE currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, SNE is holding a Forward P/E ratio of 12.52. This valuation marks a premium compared to its industry's average Forward P/E of 9.01.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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