Sphere Entertainment (NYSE:SPHR) Issues Earnings Results, Misses Expectations By $1.34 EPS

Sphere Entertainment (NYSE:SPHR) announced its quarterly earnings data on Monday. The company reported ($3.49) EPS for the quarter, missing the consensus estimate of ($2.15) by ($1.34), Zacks reports. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%.

Sphere Entertainment Price Performance

Sphere Entertainment stock opened at $43.65 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment has a one year low of $32.10 and a one year high of $51.83. The firm has a market capitalization of $1.54 billion, a P/E ratio of -4.16 and a beta of 1.39. The business has a fifty day moving average price of $43.54 and a 200-day moving average price of $43.20.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SPHR shares. Morgan Stanley lowered 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 report on Monday, November 11th. Guggenheim lowered their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Macquarie cut their price target on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.75.

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.