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

Sphere Entertainment Co. (NYSE:SPHR) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $47.75.

Several brokerages have recently commented on SPHR. Guggenheim decreased their price target on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Macquarie decreased their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Morgan Stanley lowered their target price on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th.

Institutional Trading of Sphere Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPHR. Blue Trust Inc. boosted its stake in shares of Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after purchasing an additional 912 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after buying an additional 810 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Sphere Entertainment during the third quarter worth approximately $187,000. Concurrent Investment Advisors LLC purchased a new stake in Sphere Entertainment in the 3rd quarter worth approximately $216,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in Sphere Entertainment in the 3rd quarter valued at $219,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 5.0 %

NYSE:SPHR opened at $47.48 on Thursday. Sphere Entertainment has a 1 year low of $32.10 and a 1 year high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $40.81 and a two-hundred day moving average price of $42.66. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.52 and a beta of 1.39.

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