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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.43.

Several brokerages recently commented on SPHR. Guggenheim boosted their price target on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Wednesday, October 2nd. Macquarie cut their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Bank of America decreased their price objective on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Finally, Benchmark restated a “sell” rating and set a $40.00 target price on shares of Sphere Entertainment in a report on Tuesday, September 3rd.

Institutional Investors Weigh In On Sphere Entertainment

A number of hedge funds have recently bought and sold shares of the company. Ariel Investments LLC lifted its position in shares of Sphere Entertainment by 8.2% during the 2nd quarter. Ariel Investments LLC now owns 5,538,121 shares of the company’s stock worth $194,167,000 after purchasing an additional 419,581 shares during the last quarter. Millennium Management LLC increased its position in Sphere Entertainment by 356.8% in the 2nd quarter. Millennium Management LLC now owns 335,238 shares of the company’s stock worth $11,753,000 after buying an additional 261,857 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Sphere Entertainment by 134.4% during the second quarter. Renaissance Technologies LLC now owns 332,435 shares of the company’s stock worth $11,655,000 after buying an additional 190,600 shares during the last quarter. Clearline Capital LP bought a new stake in shares of Sphere Entertainment in the third quarter valued at approximately $5,607,000. Finally, Marshall Wace LLP grew its stake in shares of Sphere Entertainment by 349.1% in the second quarter. Marshall Wace LLP now owns 130,807 shares of the company’s stock worth $4,586,000 after acquiring an additional 101,682 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Stock Up 1.6 %

Sphere Entertainment stock opened at $38.42 on Wednesday. Sphere Entertainment has a twelve month low of $29.70 and a twelve month high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $1.36 billion, a PE ratio of -3.66 and a beta of 1.38. The firm’s 50 day moving average price is $41.51 and its two-hundred day moving average price is $41.69.

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

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.