Sony Corporation (NYSE:SNE) is one of the stocks that are grabbing investor focus today: skyrocketing 2.97% or (1.44 points) to $49.88 from its previous close of $48.44. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1043653 contracts so far this session. SNE shares had a relatively better volume day versus average trading capacity of 1.67 million shares, but with a 1.02 billion float and a -0.92% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SNE stock indicates that the average analyst price target is $63.55 per share. This means the stock has a potential increase of 27.41% from where the SNE share price has been trading recently which is between $48.05 and $48.54. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $49.61.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Entertainment giant Sony in the mother of all rows over sexism” and dated May 15, 2019.
During the recent trading session for Sony Corporation (NYSE:SNE), the company witnessed their stock rise $1.13 over a week and surge $1.93 from the price 20 days ago. When compared to their established 52-week high of $61.02, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/01/18. The recent low of $41.91 stood for a -18.26% since 03/25/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.44 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Sony Corporation, the two-week RSI stands at 55.55. This figure suggests that SNE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SNE readings is similarly very revealing as it has a stochastic reading of 34.66% at this stage. This figure means that SNE share price today is being neutral.
Technical chart claims that Sony Corporation (SNE) would settle between $48.64/share to $48.83/share level. However, if the stock price goes below the $48.15 mark, then the market for Sony Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $47.85 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.76. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Macquarie raised their recommendation on shares of SNE from Neutral to Outperform in their opinion released on April 23. Jefferies analysts bumped their rating on Sony Corporation (NYSE:SNE) stock from Hold to Buy in a separate flash note issued to investors on April 15. Analysts at Jefferies lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to March 20.
SNE equity has an average rating of 1, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Sony Corporation (NYSE:SNE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SNE stock price is currently trading at 13.21X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.77 while for the average stock in the same group, the multiple is 0.49. Sony Corporation current P/E ratio of 7.51 means it is trading at a discount against its industry’s 9.57. In the past 5 years, this ratio for the stock has been fluctuating between 6.62 and 66.04.