Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have received an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $55.1250.

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Sphere Entertainment from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. BTIG Research assumed coverage on Sphere Entertainment in a research report on Monday, October 6th. They set a “neutral” rating for the company. The Goldman Sachs Group lifted their price objective on Sphere Entertainment from $50.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Guggenheim lifted their price objective on Sphere Entertainment from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Sphere Entertainment from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th.

Sphere Entertainment Trading Up 3.6%

NYSE:SPHR opened at $65.38 on Wednesday. The company has a market capitalization of $2.34 billion, a PE ratio of -12.29 and a beta of 1.79. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.36. Sphere Entertainment has a 52-week low of $23.89 and a 52-week high of $68.15. The stock has a fifty day simple moving average of $54.03 and a 200-day simple moving average of $42.84.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Monday, August 11th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.57) by $4.96. The business had revenue of $282.68 million during the quarter, compared to the consensus estimate of $280.23 million. Sphere Entertainment had a negative return on equity of 19.27% and a negative net margin of 14.68%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.00) EPS. On average, equities research analysts expect that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Trading of Sphere Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Sphere Entertainment by 95.3% in the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after buying an additional 363 shares during the period. CWM LLC grew its holdings in Sphere Entertainment by 915.3% in the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock valued at $31,000 after buying an additional 659 shares during the period. Chesapeake Asset Management LLC purchased a new stake in Sphere Entertainment in the 3rd quarter valued at about $75,000. Tower Research Capital LLC TRC grew its holdings in Sphere Entertainment by 81.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,294 shares of the company’s stock valued at $96,000 after buying an additional 1,030 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Sphere Entertainment in the 1st quarter valued at about $123,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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.