Why Sony (SNE) Stock Continues To Trade Higher Today

NEW YORK (TheStreet) -- Shares of Sony Corp. (SNE) are higher by 5.70% to $18.53 after the company earlier reported an unexpected first quarter profit as the PlayStation 4 topped sales for game consoles and the "Amazing Spider-Man" rejuvenated box office receipts for its Hollywood studios, Bloomberg reported.

Sony reported net income of 26.8 billion yen, or $261 million, in the three months ended in June, compared with 3.5 billion yen a year ago.

That compares with the 11.5 billion-yen average loss of four analyst estimates compiled by Bloomberg.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Microsoft's New Xbox One X Shows It's Done Trying to Please Everyone

Cord Cutters Aren't Just Leaving Pay-TV Because of Price

How Facebook Is Trying to Avoid a Public Relations Disaster with Songwriters

These Apple iPhone Supplier Stocks Are Ones You Must Own Now: Goldman Sachs

Apple iPhone X Is Being Stalked By This Chinese 'Killer'