Sony (SONY) closed at $28.87 in the latest trading session, marking a +2.19% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.56%. On the other hand, the Dow registered a gain of 1.29%, and the technology-centric Nasdaq increased by 2.21%.
Prior to today's trading, shares of the electronics and media company had lost 3.29% was narrower than the Consumer Discretionary sector's loss of 5.13% and lagged the S&P 500's gain of 0.41%.
The upcoming earnings release of Sony will be of great interest to investors. The company is forecasted to report an EPS of $0.33, showcasing a 10.81% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $20.04 billion, up 2.64% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $81.05 billion. These totals would mark changes of -4.07% and -4.7%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sony. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sony is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Sony is holding a Forward P/E ratio of 23.94. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 23.94.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Sony Corporation (SONY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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