Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $50.43.

Several analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Wednesday, October 2nd. Benchmark reiterated a “sell” rating and issued a $40.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. Guggenheim boosted their target price on Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Macquarie decreased their price target on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised Sphere Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $37.00 to $57.00 in a research report on Friday, August 16th.

Institutional Trading of Sphere Entertainment

A number of large investors have recently bought and sold shares of SPHR. Ariel Investments LLC increased its stake in shares of Sphere Entertainment by 8.2% in the second quarter. Ariel Investments LLC now owns 5,538,121 shares of the company’s stock worth $194,167,000 after purchasing an additional 419,581 shares in the last quarter. Millennium Management LLC raised its holdings in Sphere Entertainment by 356.8% during the 2nd quarter. Millennium Management LLC now owns 335,238 shares of the company’s stock valued at $11,753,000 after acquiring an additional 261,857 shares during the period. Bornite Capital Management LP purchased a new stake in shares of Sphere Entertainment during the first quarter worth $9,816,000. Renaissance Technologies LLC boosted its holdings in shares of Sphere Entertainment by 134.4% in the second quarter. Renaissance Technologies LLC now owns 332,435 shares of the company’s stock worth $11,655,000 after acquiring an additional 190,600 shares during the period. Finally, Clearline Capital LP purchased a new position in shares of Sphere Entertainment in the third quarter valued at $5,607,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Trading Down 1.8 %

Shares of Sphere Entertainment stock opened at $40.29 on Friday. The stock has a market capitalization of $1.42 billion, a PE ratio of -3.84 and a beta of 1.41. The stock has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $41.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment has a 52 week low of $27.02 and a 52 week high of $51.83.

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