Sphere Entertainment Co. (NYSE:SPHR – Get Free Report) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $50.43.
A number of equities analysts have weighed in on the company. Benchmark reiterated a “sell” rating and set a $40.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. Guggenheim lifted their price target on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America lowered their price objective on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Wolfe Research raised 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 report on Wednesday, October 2nd. Finally, Macquarie lowered their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th.
Get Our Latest Analysis on Sphere Entertainment
Sphere Entertainment Stock Down 0.1 %
Sphere Entertainment (NYSE:SPHR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The firm had revenue of $227.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. Equities research analysts forecast that Sphere Entertainment will post -11.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Sphere Entertainment
A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of Sphere Entertainment during the second quarter worth approximately $27,000. Summit Securities Group LLC purchased a new stake in shares of Sphere Entertainment in the 2nd quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sphere Entertainment by 46.3% in 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sphere Entertainment during the 3rd quarter worth $187,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sphere Entertainment by 36.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,357 shares of the company’s stock worth $188,000 after purchasing an additional 1,425 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.
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.
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