Sphere Entertainment Co. (NYSE:SPHR) Receives Average Rating of “Hold” from Brokerages

by · The Markets Daily

Sphere Entertainment Co. (NYSE:SPHR – Get Free Report) has received a consensus rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $50.43.

SPHR has been the topic of several analyst reports. Macquarie cut their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Wednesday, October 2nd. Bank of America decreased their price objective on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Benchmark reiterated a “sell” rating and issued a $40.00 target price on shares of Sphere Entertainment in a report on Tuesday, September 3rd. Finally, Guggenheim boosted their price target on shares of Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Get Our Latest Stock Report on Sphere Entertainment

Sphere Entertainment Stock Up 5.2 %

Shares of NYSE SPHR opened at $38.70 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.37 billion, a PE ratio of -3.69 and a beta of 1.38. The firm’s 50-day moving average is $41.68 and its 200-day moving average is $41.66. Sphere Entertainment has a 1 year low of $29.70 and a 1 year high of $51.83.

Sphere Entertainment (NYSE:SPHR – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The firm had revenue of $227.90 million during the quarter, compared to analyst estimates of $229.86 million. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s quarterly revenue was up 93.1% compared to the same quarter last year. Equities analysts expect that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently made changes to their positions in the stock. Ariel Investments LLC lifted its position in Sphere Entertainment by 8.2% in the 2nd quarter. Ariel Investments LLC now owns 5,538,121 shares of the company’s stock valued at $194,167,000 after acquiring an additional 419,581 shares in the last quarter. State Street Corp lifted its holdings in shares of Sphere Entertainment by 1.6% in the third quarter. State Street Corp now owns 632,067 shares of the company’s stock valued at $27,925,000 after purchasing an additional 9,749 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sphere Entertainment by 1.2% during the third quarter. Geode Capital Management LLC now owns 613,008 shares of the company’s stock worth $27,088,000 after buying an additional 7,434 shares during the period. Systematic Financial Management LP grew its holdings in shares of Sphere Entertainment by 3.0% during the third quarter. Systematic Financial Management LP now owns 371,164 shares of the company’s stock worth $16,398,000 after buying an additional 10,862 shares in the last quarter. Finally, Millennium Management LLC raised its position in Sphere Entertainment by 356.8% in the 2nd quarter. Millennium Management LLC now owns 335,238 shares of the company’s stock valued at $11,753,000 after buying an additional 261,857 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

(Get Free Report

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.

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