Sony Corporation (ADR) (NYSE:SNE) had its credit ratings place for review for a likely downgrade by Standard & Poor’s, mentioning a weak revival.
The ratings corporation reported in a statement on Friday that Japan’s biggest-consumer electronics exporter’s rating of BBB+, third-lowest investment mark, could be lower by one or two levels. Standard & Poor’s reported that it may decide on the rating in next weeks.
Sony, reeling from 4 successive yearly losses, slashes its yearly profit estimates 33% prior current month, as it experienced from slowing demand and a strong yen.
Decline in the television business directed Japan’s three biggest TV manufacturers including Panasonic Corp and Sharp Corp to report their major yearly losses in the year finished in March.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Panasonic Corporation (ADR) (NYSE:PC) rose +1.78% to settle at $7.43, Harman International Industries Inc /DE/ (NYSE:HAR) moved up +7.46% to end at $45.68 while Universal Electronics Inc (NASDAQ:UEIC) jumped +1.12% to finish on Friday at $15.33.
Sony Corporation (ADR) (NYSE:SNE) last session volume of 1.99 million shares was higher than its average volume of 1.65 million shares. The stock after opening at $12.02 hit high price of $12.40 and then closed at $12.34by scoring +3.01%.
SNE generated revenue of 83.03 billion in the following twelve months and earned $-5961.72 million. The Company showed a negative -6.24% in the net profit margin and as well as in its operating margin which remained -1.36%. Company’s annual sales growth for the past five year was -4.78%.
The SNE past twelve months price to sales ratio was +0.15 and price to cash ratio remained +0.74. As far as the returns are concern, the SNE return on equity was recorded as -21.05% and decreased -4.88% returns on investment while its return on asset stayed at -3.13%.
The stock showed weekly upbeat performance of +6.01% which was maintained for the month at -1.28%. Likewise the negative performance for the quarter was recorded as -12.98% and for the year was -43.37% while the YTD performance remained at -31.60%.
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