Sphere Entertainment’s (SPHR) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of Sphere Entertainment (NYSE:SPHR) in a report published on Friday,Weiss Ratings reports.

SPHR has been the topic of a number of other research reports. BTIG Research began coverage on shares of Sphere Entertainment in a research report on Monday, October 6th. They set a “neutral” rating on the stock. Wall Street Zen upgraded shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. increased their price target on Sphere Entertainment from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on Sphere Entertainment from $50.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Finally, Morgan Stanley upped their target price on Sphere Entertainment from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.13.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR opened at $67.06 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -12.60 and a beta of 1.79. The stock’s fifty day moving average price is $55.58 and its two-hundred day moving average price is $43.75. Sphere Entertainment has a one year low of $23.89 and a one year high of $68.15.

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

Institutional Investors Weigh In On Sphere Entertainment

A number of large investors have recently modified their holdings of SPHR. Ariel Investments LLC raised its holdings in shares of Sphere Entertainment by 12.7% during the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after buying an additional 802,098 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares during the last quarter. Deutsche Bank AG grew its position in Sphere Entertainment by 292.8% in the first quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock valued at $14,682,000 after acquiring an additional 334,500 shares during the last quarter. Northern Trust Corp raised its stake in Sphere Entertainment by 41.2% during the first quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock worth $17,140,000 after acquiring an additional 152,893 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Sphere Entertainment by 23.2% in the second quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock worth $31,775,000 after acquiring an additional 142,997 shares during the last quarter. Institutional investors and hedge funds 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.