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

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

A number of equities research analysts have recently commented on SPHR shares. Bank of America lowered their target price on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Morgan Stanley dropped their target price on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Macquarie decreased their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Wolfe Research raised Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Wednesday, October 2nd. Finally, Guggenheim dropped their price target on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPHR. Rhumbline Advisers increased its holdings in shares of Sphere Entertainment by 10.6% in the second quarter. Rhumbline Advisers now owns 67,303 shares of the company’s stock worth $2,304,000 after purchasing an additional 6,466 shares during the period. Victory Capital Management Inc. increased its stake in Sphere Entertainment by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 22,167 shares of the company’s stock worth $777,000 after acquiring an additional 3,033 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Sphere Entertainment by 48.6% during the second quarter. Federated Hermes Inc. now owns 569,884 shares of the company’s stock worth $19,507,000 after purchasing an additional 186,475 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sphere Entertainment by 134.4% in the second quarter. Renaissance Technologies LLC now owns 332,435 shares of the company’s stock worth $11,655,000 after purchasing an additional 190,600 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Sphere Entertainment in the second quarter valued at approximately $379,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 0.6 %

SPHR stock opened at $41.36 on Friday. The firm has a market capitalization of $1.46 billion, a PE ratio of -3.94 and a beta of 1.37. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment has a twelve month low of $29.70 and a twelve month high of $51.83. The stock’s 50 day moving average is $40.24 and its 200-day moving average is $42.33.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The firm had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. During the same period in the previous year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 93.1% compared to the same quarter last year. Sell-side analysts expect 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.