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

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

Several analysts have recently weighed in on SPHR shares. Benchmark reaffirmed a “sell” rating and set a $40.00 price objective 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 raised their price target for the company from $37.00 to $57.00 in a report on Friday, August 16th. Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Wednesday, October 2nd. Guggenheim raised 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 lowered their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Sphere Entertainment in the 2nd quarter valued at $27,000. Summit Securities Group LLC acquired a new position in shares of Sphere Entertainment during the 2nd quarter worth about $54,000. 1832 Asset Management L.P. acquired a new position in shares of Sphere Entertainment during the 1st quarter worth about $85,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 worth $111,000 after buying an additional 810 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Sphere Entertainment by 51.8% during the 2nd quarter. Quent Capital LLC now owns 4,034 shares of the company’s stock worth $141,000 after buying an additional 1,376 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Stock Up 2.0 %

Shares of SPHR opened at $41.10 on Friday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -3.91 and a beta of 1.41. 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 12 month low of $27.02 and a 12 month high of $51.83. The company has a 50-day moving average price of $43.33 and a two-hundred day moving average price of $41.43.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. The firm had revenue of $227.90 million during 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%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. Equities 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.