Sony (SONY) Stock Sinks As Market Gains: Here's Why

Sony (SONY) closed at $20.77 in the latest trading session, marking a -0.67% move from the prior day. This change lagged the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq decreased by 0.06%.Shares of the electronics and media company have depreciated by 6.31% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 6.18% and the S&P 500's loss of 2.7%.Market participants will be closely following the financial results of Sony in its upcoming release. It is anticipated that the company will report an EPS of $0.26, marking a 35% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $23.59 billion, indicating a 7.05% decline compared to the corresponding quarter of the prior year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.21 per share and a revenue of $82.4 billion, representing changes of +11.01% and -2.32%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for Sony. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.85% higher. Currently, Sony is carrying a Zacks Rank of #1 (Strong Buy).Valuation is also important, so investors should note that Sony has a Forward P/E ratio of 17.1 right now. This denotes a discount relative to the industry's average Forward P/E of 23.57.Meanwhile, SONY's PEG ratio is currently 12.67. 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 industry had an average PEG ratio of 12.67 as trading concluded yesterday.The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 8, putting it in the top 4% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks