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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $47.75.

A number of research analysts have commented on the company. Macquarie decreased their price objective on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Guggenheim reduced their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Morgan Stanley decreased their target price on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th.

Sphere Entertainment Price Performance

NYSE:SPHR opened at $46.69 on Thursday. The stock has a market capitalization of $1.65 billion, a PE ratio of -4.45 and a beta of 1.39. Sphere Entertainment has a 1-year low of $32.10 and a 1-year high of $51.83. The firm has a fifty day simple moving average of $41.47 and a 200 day simple moving average of $42.77. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. The business had revenue of $227.90 million during the quarter, compared to analysts’ expectations of $229.86 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. Sphere Entertainment’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the company posted $1.90 earnings per share. On average, research analysts expect that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Sphere Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of SPHR. Blue Trust Inc. lifted its stake in Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after purchasing an additional 912 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after buying an additional 810 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Sphere Entertainment during the 3rd quarter valued at $187,000. Concurrent Investment Advisors LLC purchased a new position in shares of Sphere Entertainment during the third quarter valued at about $216,000. Finally, ArrowMark Colorado Holdings LLC bought a new position in shares of Sphere Entertainment in the 3rd quarter worth approximately $219,000. Hedge funds and other 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.