Sony Corp (ADR) (SNE) is Downgraded by JP Morgan to Neutral

Sony Corp (ADR) (SNE) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Apr 21, 2016.

On the company’s financial health, Sony Corp (ADR) reported $95.33 EPS for the quarter, beating the analyst consensus estimate by $ 21.64 according to the earnings call on Jan 29, 2016. Analyst had a consensus of $73.69. The company had revenue of $2580800.00 million for the quarter, compared to analysts expectations of $2523103.33 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Sony Corp (ADR) closed down -0.18 points or -0.68% at $26.48 with 29,42,041 shares getting traded on Monday. Post opening the session at $25.52, the shares hit an intraday low of $25.45 and an intraday high of $26.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Sony Corporation (Sony) is engaged in the development design manufacture and sale of various kinds of electronic equipment instruments and devices for consumer professional and industrial markets as well as game consoles and software. The Company’s segments include Mobile Communications Game & Network Services Imaging Products & Solutions Home Entertainment & Sound Devices Pictures Music Financial Services and All Other. Its manufacturing facilities are located in Asia including Japan. Sony also utilizes third-party contract manufacturers for certain products. Sony’s products are marketed throughout the world by sales subsidiaries and unaffiliated distributors as well as direct sales through the Internet. Sony is engaged in the production acquisition and distribution of motion pictures and television programming and the operation of television and digital networks. The Company also develops produces and distributes recorded music.

Sony Corp (ADR)

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