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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been given an average rating of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $40.00.

SPHR has been the subject of a number of recent analyst reports. Guggenheim decreased their target price on shares of Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price target on shares of Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Benchmark assumed coverage on Sphere Entertainment in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock.

Sphere Entertainment Stock Up 0.6 %

SPHR stock opened at $43.08 on Friday. The firm has a 50-day moving average price of $38.02 and a 200-day moving average price of $39.96. The stock has a market capitalization of $1.52 billion, a P/E ratio of 3.96 and a beta of 1.41. Sphere Entertainment has a 12 month low of $27.02 and a 12 month high of $51.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Friday, May 10th. The company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). The business had revenue of $321.33 million during the quarter, compared to the consensus estimate of $324.65 million. Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. The firm’s quarterly revenue was up 98.3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.08) EPS. As a group, equities research analysts anticipate that Sphere Entertainment will post -4.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

A number of hedge funds have recently made changes to their positions in the business. CenterStar Asset Management LLC bought a new stake in Sphere Entertainment in the 4th quarter valued at about $755,000. Carnegie Capital Asset Management LLC bought a new stake in Sphere Entertainment in the fourth quarter valued at approximately $4,734,000. Swiss National Bank lifted its position in Sphere Entertainment by 1.6% in the first quarter. Swiss National Bank now owns 50,159 shares of the company’s stock valued at $2,462,000 after purchasing an additional 800 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its position in Sphere Entertainment by 18.3% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 225,000 shares of the company’s stock valued at $7,641,000 after purchasing an additional 34,789 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Sphere Entertainment in the third quarter valued at approximately $7,093,000. 92.03% of the stock is currently owned by institutional investors.

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.