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

Sphere Entertainment Co. (NYSE:SPHR) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $36.20.

SPHR has been the topic of a number of analyst reports. Seaport Res Ptn downgraded Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. Guggenheim decreased their price target on Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th.

Sphere Entertainment Stock Up 4.4 %

Sphere Entertainment stock opened at $36.13 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.65 and a quick ratio of 0.65. Sphere Entertainment has a 1-year low of $27.02 and a 1-year high of $51.83. The company has a market cap of $1.28 billion, a PE ratio of 3.32 and a beta of 1.42. The stock’s 50 day moving average price is $37.16 and its 200 day moving average price is $38.94.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly 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 net margin of 43.36% and a return on equity of 8.11%. The business had revenue of $321.33 million during the quarter, compared to analysts’ expectations of $324.65 million. During the same quarter last year, the firm earned ($1.08) earnings per share. The firm’s quarterly revenue was up 98.3% compared to the same quarter last year. On average, sell-side analysts predict that Sphere Entertainment will post -4.83 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

Several large investors have recently bought and sold shares of SPHR. Ariel Investments LLC acquired a new stake in Sphere Entertainment in the third quarter valued at $171,186,000. Vanguard Group Inc. acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $99,941,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $63,127,000. Alberta Investment Management Corp acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $13,392,000. Finally, Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $11,336,000. Institutional investors and hedge funds 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.