Sony (SONY) Increases Despite Market Slip: Here's What You Need to Know

Sony (SONY) closed at $24.70 in the latest trading session, marking a +1.02% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.07%.The electronics and media company's stock has climbed by 6.68% in the past month, falling short of the Consumer Discretionary sector's gain of 19.38% and the S&P 500's gain of 13.74%.Investors will be eagerly watching for the performance of Sony in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.12, showcasing a 42.86% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.4 billion, down 13.03% from the year-ago period.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sony. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.98% rise in the Zacks Consensus EPS estimate. Sony is holding a Zacks Rank of #2 (Buy) right now.In the context of valuation, Sony is at present trading with a Forward P/E ratio of 16.93. This valuation marks a discount compared to its industry's average Forward P/E of 18.73.One should further note that SONY currently holds a PEG ratio of 9.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. SONY's industry had an average PEG ratio of 9.46 as of yesterday's close.The Audio Video Production industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 31% of all industries, numbering over 250.The Zacks Industry Rank is ordered 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sony Corporation (SONY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks