Sphere Entertainment Co. (NYSE:SPHR) Receives $35.60 Consensus PT from Analysts

Sphere Entertainment Co. (NYSE:SPHR) has earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $36.20.

SPHR has been the topic of a number of analyst reports. Guggenheim dropped their price objective on shares of Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday. Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th.

Sphere Entertainment Trading Down 0.6 %

Shares of SPHR stock opened at $35.06 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.21. Sphere Entertainment has a fifty-two week low of $27.00 and a fifty-two week high of $51.83. The firm’s 50 day moving average price is $37.30 and its two-hundred day moving average price is $38.84. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 3.22 and a beta of 1.43.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.98). Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. The business had revenue of $321.33 million for the quarter, compared to analyst estimates of $324.65 million. During the same quarter in the previous year, the firm posted ($1.08) EPS. The business’s revenue was up 98.3% compared to the same quarter last year. On average, analysts anticipate that Sphere Entertainment will post -4.83 EPS for the current year.

Hedge Funds Weigh In On Sphere Entertainment

Several large investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in shares of Sphere Entertainment during the third quarter valued at approximately $25,000. National Bank of Canada FI bought a new position in Sphere Entertainment during the 4th quarter worth $46,000. Citigroup Inc. acquired a new stake in Sphere Entertainment in the third quarter worth $59,000. Quest Partners LLC bought a new stake in Sphere Entertainment in the fourth quarter valued at $61,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Sphere Entertainment during the first quarter valued at $85,000. 92.03% of the stock is currently owned by institutional investors.

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.