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

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

A number of equities analysts have weighed in on the stock. Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. Guggenheim lowered their price target on shares of Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating for the company in a report on Thursday.

Sphere Entertainment Stock Down 0.6 %

Shares of SPHR opened at $35.06 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 3.22 and a beta of 1.43. Sphere Entertainment has a one year low of $27.00 and a one year high of $51.83. The business’s 50 day simple moving average is $37.30 and its 200-day simple moving average is $38.93. 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 (NYSE:SPHR) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.33) EPS 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 business had revenue of $321.33 million during the quarter, compared to analyst estimates of $324.65 million. During the same period in the prior year, the firm posted ($1.08) EPS. Sphere Entertainment’s revenue for the quarter was up 98.3% compared to the same quarter last year. As a group, sell-side analysts predict that Sphere Entertainment will post -4.83 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

A number of institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC bought a new stake in Sphere Entertainment in the third quarter valued at about $25,000. National Bank of Canada FI acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at approximately $46,000. Citigroup Inc. bought a new position in Sphere Entertainment during the 3rd quarter worth approximately $59,000. Quest Partners LLC acquired a new position in Sphere Entertainment during the fourth quarter valued at approximately $61,000. Finally, 1832 Asset Management L.P. bought a new stake in Sphere Entertainment in the first quarter valued at approximately $85,000. 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.