Sphere Entertainment Co. (NYSE:SPHR) Receives $35.60 Average Price Target from Brokerages

Sphere Entertainment Co. (NYSE:SPHR) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.20.

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

Institutional Trading of Sphere Entertainment

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Sphere Entertainment by 2.2% during the fourth quarter. Victory Capital Management Inc. now owns 20,851 shares of the company’s stock valued at $708,000 after buying an additional 457 shares during the last quarter. North Star Investment Management Corp. grew its position in Sphere Entertainment by 0.5% during the 1st quarter. North Star Investment Management Corp. now owns 125,620 shares of the company’s stock worth $6,165,000 after acquiring an additional 620 shares during the last quarter. Ancora Advisors LLC purchased a new position in Sphere Entertainment in the 3rd quarter worth approximately $25,000. Swiss National Bank lifted its position in Sphere Entertainment by 1.6% in the first quarter. Swiss National Bank now owns 50,159 shares of the company’s stock valued at $2,462,000 after purchasing an additional 800 shares during the last quarter. Finally, Allegheny Financial Group LTD boosted its stake in shares of Sphere Entertainment by 16.2% during the fourth quarter. Allegheny Financial Group LTD now owns 6,273 shares of the company’s stock valued at $213,000 after purchasing an additional 875 shares during the period. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $35.06 on Wednesday. The company has a 50 day moving average of $37.30 and a 200 day moving average of $38.93. 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 P/E 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 released 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). Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. The firm had revenue of $321.33 million for the quarter, compared to analysts’ expectations of $324.65 million. During the same quarter last year, the firm earned ($1.08) earnings per share. The firm’s revenue for the quarter was up 98.3% on a year-over-year basis. As a group, sell-side analysts forecast that Sphere Entertainment will post -4.83 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.