Sony (SONY) Gains As Market Dips: What You Should Know

Sony (SONY) closed the latest trading day at $25.50, indicating a +0.95% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 1.12%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 2.04%.The electronics and media company's shares have seen an increase of 0.76% over the last month, surpassing the Consumer Staples sector's loss of 1.81% and the S&P 500's loss of 2.91%.Market participants will be closely following the financial results of Sony in its upcoming release. The company is expected to report EPS of $0.12, down 42.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $20.4 billion, indicating a 13.03% downward movement from the same quarter last year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.23 per share and revenue of $90.01 billion, indicating changes of +12.84% and +6.71%, respectively, compared to the previous year.Investors might also notice recent changes to analyst estimates 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 company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.51% increase. Sony is holding a Zacks Rank of #1 (Strong Buy) right now.In terms of valuation, Sony is currently trading at a Forward P/E ratio of 20.62. This signifies a premium in comparison to the average Forward P/E of 20.48 for its industry.One should further note that SONY currently holds a PEG ratio of 3.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Consumer Products - Staples industry was having an average PEG ratio of 3.34.The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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