Sphere Entertainment (NYSE:SPHR) PT Lowered to $43.00

Sphere Entertainment (NYSE:SPHR) had its target price decreased by analysts at Guggenheim from $48.00 to $43.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 22.65% from the stock’s current price.

Separately, Seaport Res Ptn lowered shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th. 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, the company currently has an average rating of “Hold” and a consensus target price of $36.20.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $35.06 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day moving average price of $37.30 and a 200 day moving average price of $38.84. Sphere Entertainment has a fifty-two week low of $27.00 and a fifty-two week high of $51.83. The firm 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 issued its earnings results on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). Sphere Entertainment had a return on equity of 8.11% and a net margin of 43.36%. The company had revenue of $321.33 million for the quarter, compared to the consensus estimate of $324.65 million. During the same quarter in the prior year, the company posted ($1.08) EPS. Sphere Entertainment’s revenue was up 98.3% compared to the same quarter last year. As a group, sell-side analysts expect that Sphere Entertainment will post -4.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Sphere Entertainment by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 20,851 shares of the company’s stock valued at $708,000 after acquiring an additional 457 shares during the period. North Star Investment Management Corp. raised its stake in shares of Sphere Entertainment by 0.5% in the first quarter. North Star Investment Management Corp. now owns 125,620 shares of the company’s stock valued at $6,165,000 after acquiring an additional 620 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Sphere Entertainment in the third quarter valued at $25,000. Swiss National Bank raised its stake in shares of 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 acquiring an additional 800 shares during the period. Finally, Allegheny Financial Group LTD raised its stake in shares of Sphere Entertainment by 16.2% in the fourth quarter. Allegheny Financial Group LTD now owns 6,273 shares of the company’s stock valued at $213,000 after acquiring an additional 875 shares during the period. Institutional investors own 92.03% of the company’s stock.

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.