47.90 +1.23 (2.64%)
Pre-Market: 8:19AM EDT
|Bid||45.00 x 1800|
|Ask||46.70 x 800|
|Day's Range||46.43 - 46.88|
|52 Week Range||41.91 - 61.02|
|Beta (3Y Monthly)||0.95|
|PE Ratio (TTM)||9.81|
|Forward Dividend & Yield||0.26 (0.55%)|
|1y Target Est||63.55|
Sony is warning that it expects to make even less profit in the next year, asPlayStation 4 sales slow down and it invests in its replacement
Sony has said that the release date of its next-generation PlayStation console, likely to be called the PS5, will not be for at least 12 months.
Sony Corp warned of a sharper-than-expected drop in its annual profit and scrapped some longer-term targets, in a sign a slowdown in its gaming business as its PlayStation 4 console nears the end of its life was beginning to hurt. The bleak outlook comes after two years of record profits and underlines concerns a turnaround is losing steam at Sony - which bet on entertainment and gaming for steady revenues after battling years of losses with consumer electronics, such as TV sets, that are more susceptible to price competition. Analysts widely expect Sony to launch a next-generation console in 2020 to replace the five-year old PlayStation 4 (PS4), but the business could face tough competition with new video game streaming services from Alphabet Inc's Google and Apple.
Operating profit will be 810 billion yen ($7.3 billion) in the year ending March 2020, down from last year’s 894 billion yen and below the 843 billion yen average of analyst estimates compiled by Bloomberg. For the three months ended in March, operating income came to 82.7 billion yen, surpassing the 69.1 billion yen average projection. Sony Chief Executive Officer Kenichiro Yoshida is known for providing conservative guidance, a practice he honed helping to lead the Japanese icon through a turnaround over the past five years.
TOKYO (AP) — Japanese entertainment and electronics company Sony Corp. has reverted to profitability for the quarter through March, boosted by robust demand for game software and network services, as well as gains from Spotify.
Sony warned of declining profits in the 12 months ahead as slowing PlayStation 4 sales and costs to develop a next-generation gaming console put a brake on a two-year run of record earnings. The forecast also comes as Sony’s shares have risen following an April 8 report by Reuters that Third Point was building a stake for the second time.
Video games have evolved in a multi-billion dollar industry supported by advancement in technology, high-speed connectivity, and customized gadgets.
Shares of Sony (NYSE:SNE) have been showing signs of life this month, after a long downtrend kept SNE under serious pressure. Is it a safe buy now and how much upside could exist?Source: Dalvenjah via FlickrNo stock is necessarily a "safe" pick, but if investors enter into a favorable risk/reward, they can enhance the odds of the latter and reduce the odds of the former.With Sony stock, the charts point to a potentially favorable entry near current levels. As for upside, the average price target from analysts sits at $66.55, more than 36% above current levels.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Sell Before They Give Back 2019 Gains SNE stock received an upgrade from Macquarie analysts on Tuesday morning. They went from neutral to outperform, although did not assign a price target. That follows Jefferies, who last week upgraded the stock to buy from hold. These analysts did include a price target, which went from $50.70 to $58. Even if Sony stock "only" rallied to this mark, it would represent more than 24% upside from current levels. Trading Sony Stock Click to EnlargeAbove is a two-year weekly chart of Sony stock. April was a big month for Sony, as the stock hammered out a bottom near $42. It took about three weeks to solidify, but once it did, the share price took off.It pushed right through $45, a key mark. More important, it broke out of its downward channel. This channel, highlighted in blue on the chart, has been pressuring Sony stock lower for six months. For SNE to break out of this channel is a critical development for bulls and could suggest more upside.With shares getting hit down toward $46.50, this could give interested bulls an entry on the long side. As long as SNE stock stays north of prior downtrend resistance, it's okay on the long side. For now, Sony stock is holding up over the 10-week moving average as well. If this moving average acts as support, that's very promising for potential upside.That said, investors have to contend with news of lower video game sales last month. That news isn't just bad for Sony, but Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA) and others. The exception may be Nintendo (OTCMKTS:NTDOY), which suddenly found itself in demand when China became open to allowing the Switch in the country.More notably, Sony earnings are on April 26. Many will want to wait until after the report before entering Sony stock, and I do not blame them. Bottom Line on Sony StockWhen Sony reports its fiscal fourth-quarter results later this week, analysts will be looking for earnings of 19 cents per share on revenue of $18.79 billion. Those earnings estimates are down almost 30% from 90 days ago, when analysts were looking for 27 cents per share in earnings. In-line revenue results would result in 4.3% year-over-year growth.Overall, analysts are looking for full-year earnings of $5.86 per share on revenue of $77.58 billion. Should SNE achieve these numbers, it will represent 67% growth and 0.60% growth, respectively. However, in fiscal 2020, estimates call for earnings of "just" $3.85 per share. That puts Sony stock at about 12 times next year's earnings (the fiscal year of which will start this quarter).For short-term traders, SNE is likely too much of a mixed bag. However, for investors that like its long-term prospects, Sony stock has some attractive qualities. Consider current levels a decent entry for a partial position. Those who choose to wait can see whether nearby support is legit or if it will fail.Should Sony stock rally, I want to see how it handles $50.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises Compare Brokers The post Sony Stock Easily Could Have a 36% Upside After Earnings appeared first on InvestorPlace.
Sony (SNE) is likely to report lower-than-expected sales in Financial Services, Semiconductors, Mobile Communications, and Imaging Products & Solutions segment in the fiscal fourth quarter.
Nintendo's (NTDOY) results for the quarter ending March 2019 are likely to benefit from solid game releases and record sales of Switch.
Daniel Loeb appears to have set his sights on Sony again. Now, after a three-year lull in its activism in the country, the hedge fund seems to have launched a Sony campaign sequel. The company’s shares have risen 10 per cent since an April 8 report by Reuters that Third Point was building a stake for the second time.
Nintendo Ltd/ADR (OTCMKTS:NTDOY) has enjoyed a resurgence over the past three years. Nintendo stock was in the doldrums during the era of the Wii U -- the followup to the Wii game console -- but it began to recover in 2016 with the release of Pokemon Go for smartphones and the company's announcement of the forthcoming Switch hybrid console. On Friday, Nintendo stock got its biggest single day boost since 2016 when it was announced the Switch will finally go in sale in China, the world's biggest video game market.Source: Nintendo Nintendo to Launch Switch in China On April 18, it was confirmed that Chinese gaming giant Tencent Holdings has received approval to sell the Nintendo Switch game console in China. Tencent is expected to bundle the switch with Nintendo's New Super Mario Bros. U Deluxe game.This was a huge win for NTDOY and resulted in Nintendo stock closing Friday up 17%, the largest single day gain for the company since July, 2016. That's much more than the near 5% boost Nintendo stock saw when reports broke last month that it had two new Switch consoles in the pipeline.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Healthy Dividend Stocks to Buy for Extra Stability Why the excitement and investor enthusiasm? The Switch launched in March 2017 and has been a hit for Nintendo, but the company has been unable to gain approval to sell it in China. And China is the world's largest market for video games. The country may be focused largely on PC gaming, but mobile is also big and getting bigger. And the portable Nintendo Switch is seen as a mobile gaming powerhouse.Because the Switch hasn't been officially available in the Chinese market, that also means there is now a deep catalog of Nintendo game titles that will available to bolster sales -- and Nintendo's earnings. The Chinese Video Game Market and Nintendo's AdvantageWhen it comes to video game revenue, China tops the U.S. as the world's largest market. It's estimated that in 2018, the industry generated $34.4 billion in China in 2018. Microsoft (NASDAQ:MSFT) became the first company to release a video game console in China in 16 years when it launched the Xbox One there in 2014. In 2015, Sony (NYSE:SNE) followed, launching the Playstation 4 in the Chinese market.Both of Nintendo's key game console competitors have had several years to establish a presence in China, but have failed to achieve significant sales numbers. That's because that huge Chinese video game market is utterly dominated by PC and mobile gaming. In 2016 -- with both the Xbox One and PS4 available -- console sales and games accounted for just 1% of China's video game revenue. Why the surge in Nintendo stock then? Besides PC gaming, China's other video game obsession is mobile. The Xbox One and PS4 are traditional game consoles, but Nintendo's Switch is a hybrid that is a fully functional mobile gaming system with a bigger display than a smartphone, superior controls, Wi-Fi connectivity and the room to store multiple games.Mobile gaming is seen as a key advantage that will help Nintendo to sell Switch units in China where the competition has failed. Even better, NTDOY's Chinese distribution partner Tencent Holdings is expected to release some of its own popular Chinese game titles on the Switch, boosting its appeal.There are still some hurdles to overcome, though. The date when the console will go on sale in China has net yet been announced. And Reuters points out that games need to undergo a separate government approval process before release, and that could delay them.Nintendo stock has taken some hits since last fall, with Switch sales beginning to slow. However, 2019 is beginning to look like it could be a big one for NTDOY investors. * 7 Tech Stocks With Too Much Risk, Not Enough Upside The two new Switch models reportedly on track for release later this year should help to re-invigorate sales during the holiday season. And cracking the Chinese video game market -- with its growing appetite for mobile gaming and a big player partner in Tencent Holdings -- has the potential to boost sales and NTDOY revenue to new levels.As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post Chinese Switch Release Leads to Nintendo Stock's Best Day Since 2016 appeared first on InvestorPlace.
Some investors believe that the streaming service could become the Netflix of audio. But Apple, Amazon, and the record labels stand in the way.
The team behind the Pratt-Pullman Yard is planning to break ground on its more than $100 million mixed-use redevelopment within the next few months.
Wattpad, the online storytelling community whose authors' works have beenturned into Netflix movies, TV shows for Hulu and projects for other studiosboth in the U
Based on an interview with Marc Cerny, one of the PlayStation brand’s key architects, it offered some noteworthy details about (6758)’s (ticker: SNE) fifth-generation game console. Cerny didn’t leak the name of the device, which for practical reasons is being generally referred to as the—duh—PlayStation 5. Sony stock was up 1.4% to $47.98 in early afternoon.
Sony PlayStation 5 rumors are heating up after details about the next-gen console were revealed.Source: Dalvenjah via FlickrHere's what we know so far about these rumors. * A recent interview from Wired gives a look at what Sony's (NYSE:SNE) next-gen console will be like. * Sony's Mark Cerny spoke about the console during the interview. * It's worth noting that Cerny never refers to the console at the PlayStation 5. * Despite this, the Sony PlayStation 5 rumors are heating up. * What Cerny does confirm is that this won't be a mid-console upgrade. * He instead refers to it as a "next-gen console." * It's also worth pointing out that Cerny says this console won't be coming out anytime this year. * The details about the video game console also include that it will feature a Solid State Drive (SSD). * Also among these details are that it will include a graphics card that is able to support ray tracing. * It will also be using a processor that is based on AMD's (NASDAQ:AMD) Ryzen line. * Cerny mentions that this next-gen Sony console will also be compatible with the PlayStaion VR headset. * It will also be using the same architecture as the PlayStation 4. * This means that the console will be able to play games that came out on the PlayStaion 4. * It's also worth pointing out that the console won't be digital only and will accept physical media. * 7 Marijuana Companies: Which Pot Stocks Should You Buy? You can learn more about the Sony PlaySation 5 rumors by following this link.InvestorPlace - Stock Market News, Stock Advice & Trading Tips More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Sony PlayStation 5 Rumors: What We've Heard … appeared first on InvestorPlace.