Sony (SNE) closed at $63.16 in the latest trading session, marking a -1.56% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.81%. Elsewhere, the Dow lost 2.94%, while the tech-heavy Nasdaq lost 3%.
Coming into today, shares of the electronics and media company had lost 8.97% in the past month. In that same time, the Consumer Discretionary sector lost 7.31%, while the S&P 500 lost 3.97%.
SNE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.34, down 45.16% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.37 per share and revenue of $78.70 billion, which would represent changes of -32.04% and +0.75%, respectively, from the prior year.
Any recent changes to analyst estimates for SNE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.17% higher. SNE is currently a Zacks Rank #2 (Buy).
Looking at its valuation, SNE is holding a Forward P/E ratio of 14.68. Its industry sports an average Forward P/E of 13.23, so we one might conclude that SNE is trading at a premium comparatively.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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