Sphere Entertainment (NYSE:SPHR) Given New $45.00 Price Target at Macquarie

Sphere Entertainment (NYSE:SPHR) had its price target decreased by Macquarie from $47.00 to $45.00 in a report published on Wednesday,Benzinga reports. Macquarie currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on SPHR. Guggenheim upped their target price on Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. raised shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $37.00 to $57.00 in a research note on Friday, August 16th. Bank of America dropped their target price on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Benchmark restated a “sell” rating and issued a $40.00 price target on shares of Sphere Entertainment in a report on Tuesday, September 3rd. Finally, Wolfe Research upgraded shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.43.

Sphere Entertainment Trading Up 1.9 %

Shares of SPHR opened at $41.74 on Wednesday. Sphere Entertainment has a twelve month low of $27.02 and a twelve month high of $51.83. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $43.59 and its 200-day simple moving average is $41.38. The company has a market cap of $1.48 billion, a P/E ratio of -4.02 and a beta of 1.41.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. The company had revenue of $227.90 million for the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.26%. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 EPS. As a group, analysts expect that Sphere Entertainment will post -9.6 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank lifted its position in Sphere Entertainment by 1.6% during the 1st quarter. Swiss National Bank now owns 50,159 shares of the company’s stock worth $2,462,000 after acquiring an additional 800 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Sphere Entertainment during the first quarter worth about $203,000. Vanguard Group Inc. boosted its position in Sphere Entertainment by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,807,395 shares of the company’s stock valued at $137,787,000 after buying an additional 17,613 shares during the last quarter. MADDEN SECURITIES Corp acquired a new position in Sphere Entertainment in the 3rd quarter worth approximately $1,237,000. Finally, Evergreen Capital Management LLC acquired a new stake in Sphere Entertainment during the 2nd quarter valued at approximately $1,397,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.