Sony Corporation (SNE) saw a big move last session, as the company’s shares fell nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for SNE as the stock is now up around 5.5% since Sep 9.
Although this slump was obviously disappointing, the developer and manufacturer of consumer and industrial electronic equipment has seen 1 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for SNE. So make sure to keep an eye on this stock going forward to see if yesterday’s price declines confirmed by more weakness, or if it can rebound in the weeks ahead.
SNE currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0%.
Some better-ranked stocks in the same sector include Dolby Laboratories, Inc. (DLB), Panasonic Corporation (PCRFY) and Skullcandy, Inc. (SKUL). All these stocks hold a Zacks Rank #2 (Buy).
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