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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.78.

A number of research firms recently weighed in on SPHR. Guggenheim boosted their price target on shares of Sphere Entertainment from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Susquehanna initiated coverage on shares of Sphere Entertainment in a report on Monday, April 28th. They issued a “positive” rating and a $37.00 target price on the stock. Macquarie decreased their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their target price on shares of Sphere Entertainment from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley decreased their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Sphere Entertainment by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company’s stock valued at $112,689,000 after acquiring an additional 29,402 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Sphere Entertainment in the 4th quarter valued at approximately $2,656,000. OFI Invest Asset Management purchased a new stake in Sphere Entertainment during the 4th quarter worth approximately $306,000. Entropy Technologies LP increased its stake in Sphere Entertainment by 108.6% during the 4th quarter. Entropy Technologies LP now owns 13,816 shares of the company’s stock worth $557,000 after buying an additional 7,194 shares during the period. Finally, Norges Bank purchased a new stake in Sphere Entertainment during the 4th quarter worth approximately $14,432,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Stock Performance

SPHR opened at $39.43 on Thursday. The firm has a market capitalization of $1.41 billion, a PE ratio of -3.76 and a beta of 1.65. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $50.88. The firm’s 50-day moving average price is $33.12 and its 200 day moving average price is $37.17. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.21. The firm had revenue of $280.57 million for the quarter, compared to analyst estimates of $285.01 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. Sphere Entertainment’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.33) earnings per share. As a group, sell-side analysts expect that Sphere Entertainment will post -11.47 EPS 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.