Sony (SONY) Stock Declines While Market Improves: Some Information for Investors

Sony (SONY) closed at $24.88 in the latest trading session, marking a -1.97% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.24%. Heading into today, shares of the electronics and media company had lost 0.63% over the past month, lagging the Consumer Discretionary sector's gain of 2.16% and the S&P 500's gain of 4.61%.The investment community will be closely monitoring the performance of Sony in its forthcoming earnings report. The company's upcoming EPS is projected at $0.24, signifying steadiness compared to the same quarter of the previous year. SONY's full-year Zacks Consensus Estimates are calling for earnings of $1.16 per share and revenue of $79.87 billion. These results would represent year-over-year changes of -5.69% and -6.09%, respectively. It is also important to note the recent changes to analyst estimates for Sony. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.22% higher. Sony is currently sporting a Zacks Rank of #3 (Hold). Investors should also note Sony's current valuation metrics, including its Forward P/E ratio of 21.83. This indicates a discount in contrast to its industry's Forward P/E of 30.49. Investors should also note that SONY has a PEG ratio of 12.2 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Audio Video Production was holding an average PEG ratio of 12.2 at yesterday's closing price. The Audio Video Production industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 25% of over 250 industries. 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. You can find more information on all of these metrics, and much more, on Zacks.com. Should You Invest in Sony Corporation (SONY)?Before you invest in Sony Corporation (SONY), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want 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