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

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $47.75.

A number of equities analysts have weighed in on SPHR shares. Morgan Stanley cut their price target 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 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 research note on Wednesday, November 13th. Finally, Guggenheim cut 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 note on Tuesday, November 12th.

Sphere Entertainment Stock Performance

Shares of SPHR opened at $47.69 on Thursday. 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 company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -4.54 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 company’s 50 day simple moving average is $41.22 and its 200 day simple moving average is $42.71.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. The company had revenue of $227.90 million for the quarter, compared to the consensus estimate 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 revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. On average, sell-side analysts predict that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after purchasing an additional 912 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sphere Entertainment by 46.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after purchasing an additional 810 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sphere Entertainment during the 3rd quarter valued at $187,000. Concurrent Investment Advisors LLC acquired a new stake in Sphere Entertainment during the 3rd quarter valued at $216,000. Finally, Tidal Investments LLC acquired a new stake in Sphere Entertainment during the 3rd quarter valued at $225,000. 92.03% of the stock is owned by institutional investors and hedge funds.

About Sphere Entertainment

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.