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

Sphere Entertainment (NYSE:SPHR) had its price objective cut by Guggenheim from $48.00 to $43.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Seaport Res Ptn cut shares of Sphere Entertainment from a buy rating to a neutral rating in a report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $36.20.

Sphere Entertainment Trading Down 0.6 %

NYSE SPHR opened at $35.06 on Thursday. The company’s 50-day moving average price is $37.30 and its 200-day moving average price is $38.88. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.24 billion, a PE ratio of 3.22 and a beta of 1.43. Sphere Entertainment has a 12 month low of $27.00 and a 12 month high of $51.83.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPHR. Ariel Investments LLC bought a new position in Sphere Entertainment during the 3rd quarter worth about $171,186,000. Vanguard Group Inc. purchased a new stake in shares of Sphere Entertainment during the third quarter valued at about $99,941,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sphere Entertainment during the third quarter valued at about $63,127,000. Alberta Investment Management Corp purchased a new stake in shares of Sphere Entertainment during the third quarter valued at about $13,392,000. Finally, Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Sphere Entertainment during the third quarter valued at about $11,336,000. 92.03% of the stock is currently owned by institutional investors.

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.