Sony Corp (ADR) (NYSE:SNE) investors are bullish today, after the company announced that they have reached an agreement with famed video game creator, Hideo Kojima. Kojima, who is known for game franchises such as “Metal Gear Solid”, and “Silent Hill”, will now be working on creating a Playstation 4 exclusive.
Sony Corp (ADR) (NYSE:SNE) steals the game developer from Konami (KNM), for at least the creation of one game, but perhaps the agreement will end up bringing many new games from Kojima to the PS4.
This news comes at an opportune time, when investors are already excited about the holiday shopping season. Shares of Sony Corp (NYSE:SNE) are trading on the upside today. The stock is up 2.37% or $0.58 following the news, hitting $25.08 per share. About 1.17 million shares traded hands or up 24.15% from the average. SNE has declined 23.44% since May 13, 2015 and is currently downtrending. It has underperformed the S&P500 by 20.81%.
From a total of 2 analysts covering Sony Corp (NYSE:SNE) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. Sony Corp was the topic of 3 analyst reports since August 16, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on September 4 with a “Buy” rating. JP Morgan maintained SNE stock in a recent report from August 16 with a “Overweight” rating.
Sony Corporation 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 has a market cap of $30.93 billion. The Company’s divisions include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It has 36.68 P/E ratio. The Company’s manufacturing facilities are located in Asia, including Japan.