Sony Gains as Investors Look Ahead to Upcoming Results

Sony Group shares rose 1.4% to $23.82 at Friday’s close, outperforming the major U.S. indexes. The S&P 500 gained 0.73%, the Dow added 0.49% and the Nasdaq rose 1.19%.

Before Friday’s session, Sony shares had fallen 5.89% over the past month. That decline was smaller than the Consumer Discretionary sector’s 6.5% drop, while the S&P 500 had gained 0.55% over the same period.

Investors are awaiting Sony’s upcoming financial results. Zacks consensus estimates project quarterly revenue of $19.93 billion, down 5.46% from the equivalent quarter a year earlier.

For the annual period, Zacks estimates earnings of $1.41 per share and revenue of $81.26 billion. Those figures represent projected changes of 23.68% higher earnings and 1.98% lower revenue from the prior year. The consensus earnings estimate was unchanged over the past month.

Zacks put Sony’s forward price-to-earnings ratio at 16.63, compared with an industry average of 15.39. Its price-to-earnings-growth ratio was 1.7, matching the industry average.