Sphere Entertainment Co. (NYSE:SPHR) Receives $50.43 Consensus Price Target from Analysts

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $50.43.

Several research firms have weighed in on SPHR. Benchmark reissued a “sell” rating and issued a $40.00 price target on shares of Sphere Entertainment in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the company from $37.00 to $57.00 in a report on Friday, August 16th. Bank of America lowered their price target on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Guggenheim increased their price target on shares of Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Macquarie decreased their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th.

Institutional Trading of Sphere Entertainment

Several large investors have recently made changes to their positions in the company. Ariel Investments LLC boosted 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 acquiring an additional 419,581 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sphere Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,807,395 shares of the company’s stock worth $137,787,000 after acquiring an additional 17,613 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of Sphere Entertainment by 4.4% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,542,865 shares of the company’s stock worth $124,804,000 after acquiring an additional 106,651 shares in the last quarter. State Street Corp boosted its position in shares of Sphere Entertainment by 1.6% during the 3rd quarter. State Street Corp now owns 632,067 shares of the company’s stock worth $27,925,000 after acquiring an additional 9,749 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Sphere Entertainment by 1.2% in the third quarter. Geode Capital Management LLC now owns 613,008 shares of the company’s stock valued at $27,088,000 after buying an additional 7,434 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 2.0 %

Shares of SPHR stock opened at $41.10 on Friday. 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’s 50-day moving average is $43.33 and its 200-day moving average is $41.43. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -3.91 and a beta of 1.41. Sphere Entertainment has a 52-week low of $27.02 and a 52-week high of $51.83.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The company had revenue of $227.90 million for the quarter, compared to analysts’ expectations of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. Sphere Entertainment’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. Sell-side analysts predict that Sphere Entertainment will post -11.47 EPS for the current 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.