Sphere Entertainment (NYSE:SPHR) Given New $43.00 Price Target at Guggenheim

Sphere Entertainment (NYSE:SPHR) had its price objective decreased by Guggenheim from $48.00 to $43.00 in a research note released on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Separately, Seaport Res Ptn downgraded shares of Sphere Entertainment from a buy rating to a neutral rating in a report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of Hold and an average price target of $36.20.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $35.28 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $37.43 and its 200-day moving average price is $38.84. The firm has a market capitalization of $1.25 billion, a P/E ratio of 3.24 and a beta of 1.43. Sphere Entertainment has a 1-year low of $26.55 and a 1-year high of $51.83.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.98). The firm had revenue of $321.33 million during the quarter, compared to the consensus estimate of $324.65 million. Sphere Entertainment had a return on equity of 8.11% and a net margin of 43.36%. The firm’s revenue was up 98.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.08) EPS. Equities research analysts anticipate that Sphere Entertainment will post -4.83 earnings per share for the current fiscal year.

Institutional Trading of Sphere Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. CenterStar Asset Management LLC purchased a new position in Sphere Entertainment during the fourth quarter worth about $755,000. Carnegie Capital Asset Management LLC purchased a new position in Sphere Entertainment during the fourth quarter worth about $4,734,000. Seven Eight Capital LP purchased a new position in Sphere Entertainment during the third quarter worth about $980,000. Greenhaven Road Investment Management L.P. boosted its holdings in Sphere Entertainment by 18.3% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 225,000 shares of the company’s stock worth $7,641,000 after purchasing an additional 34,789 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Sphere Entertainment during the third quarter worth about $7,093,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

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.