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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $50.43.

Several research firms have issued reports on SPHR. Macquarie dropped their price target 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 Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Wednesday, October 2nd. Benchmark reaffirmed a “sell” rating and set a $40.00 price target on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $57.00 in a report on Friday, August 16th. Finally, Bank of America lowered their price target on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in Sphere Entertainment during the second quarter worth about $27,000. Summit Securities Group LLC bought a new stake in shares of Sphere Entertainment in the second quarter worth $54,000. 1832 Asset Management L.P. bought a new stake in shares of Sphere Entertainment in the 1st quarter valued at about $85,000. Mirae Asset Global Investments Co. Ltd. increased its position in Sphere Entertainment by 46.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after purchasing an additional 810 shares during the period. Finally, Quent Capital LLC increased its position in shares of Sphere Entertainment by 51.8% during the second quarter. Quent Capital LLC now owns 4,034 shares of the company’s stock worth $141,000 after buying an additional 1,376 shares during the period. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $40.29 on Friday. The stock has a 50-day moving average of $43.35 and a 200-day moving average of $41.42. Sphere Entertainment has a one year low of $27.02 and a one year high of $51.83. The stock has a market cap of $1.42 billion, a PE ratio of -3.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, topping the consensus estimate of ($3.32) by $0.37. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The business had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. During the same quarter last year, the business posted $1.90 EPS. The firm’s revenue was up 93.1% compared to the same quarter last year. As a group, sell-side analysts expect that Sphere Entertainment will post -11.47 earnings per share for the current year.

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.