Sphere Entertainment (SPHR) Set to Announce Quarterly Earnings on Friday

Sphere Entertainment (NYSE:SPHR) is scheduled to be posting its quarterly earnings results before the market opens on Friday, May 10th. Analysts expect Sphere Entertainment to post earnings of ($0.35) per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Monday, February 5th. The company reported ($4.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The business had revenue of $314.16 million during the quarter, compared to the consensus estimate of $303.28 million. Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.91%. The firm’s quarterly revenue was up 96.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.25 EPS. On average, analysts expect Sphere Entertainment to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Sphere Entertainment Stock Down 2.2 %

Shares of NYSE SPHR opened at $39.79 on Thursday. The company has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $38.29. The firm has a market cap of $1.40 billion, a PE ratio of 3.76 and a beta of 1.46. Sphere Entertainment has a 1 year low of $20.68 and a 1 year high of $51.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.63 and a quick ratio of 0.63.

Insiders Place Their Bets

In other Sphere Entertainment news, CEO James Lawrence Dolan bought 76,139 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $40.73 per share, for a total transaction of $3,101,141.47. Following the purchase, the chief executive officer now directly owns 520,039 shares of the company’s stock, valued at approximately $21,181,188.47. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Andrea Greenberg sold 12,131 shares of Sphere Entertainment stock in a transaction on Friday, March 8th. The stock was sold at an average price of $51.00, for a total transaction of $618,681.00. Following the sale, the chief executive officer now directly owns 76,650 shares in the company, valued at approximately $3,909,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Lawrence Dolan bought 76,139 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $40.73 per share, for a total transaction of $3,101,141.47. Following the completion of the purchase, the chief executive officer now directly owns 520,039 shares in the company, valued at $21,181,188.47. The disclosure for this purchase can be found here. Insiders have bought 245,669 shares of company stock valued at $10,706,120 in the last three months. 24.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on SPHR. Seaport Res Ptn lowered shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. Wolfe Research initiated coverage on shares of Sphere Entertainment in a research note on Wednesday, January 17th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Sphere Entertainment from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Finally, Bank of America initiated coverage on shares of Sphere Entertainment in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $43.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Sphere Entertainment currently has a consensus rating of “Hold” and a consensus target price of $35.60.

About Sphere Entertainment

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.