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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $63.8750.

A number of analysts recently weighed in on SPHR shares. BTIG Research began coverage on shares of Sphere Entertainment in a research report on Monday, October 6th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their target price on Sphere Entertainment from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Benchmark increased their target price on Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group boosted their price target on Sphere Entertainment from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Morgan Stanley upped their price target on Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, November 3rd.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its position in shares of Sphere Entertainment by 12.7% during the second quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after purchasing an additional 802,098 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after buying an additional 357,794 shares in the last quarter. Deutsche Bank AG lifted its holdings in Sphere Entertainment by 292.8% during the 1st quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock worth $14,682,000 after buying an additional 334,500 shares during the last quarter. Northern Trust Corp lifted its holdings in Sphere Entertainment by 41.2% during the 1st quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock worth $17,140,000 after buying an additional 152,893 shares during the last quarter. Finally, Holocene Advisors LP grew its position in shares of Sphere Entertainment by 23.2% in the 2nd 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 in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Stock Down 2.8%

SPHR opened at $77.81 on Friday. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $81.47. The firm has a 50 day moving average price of $63.51 and a 200 day moving average price of $48.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $2.78 billion, a PE ratio of -15.05 and a beta of 1.79.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($1.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.25. Sphere Entertainment had a negative net margin of 13.87% and a negative return on equity of 17.20%. The firm had revenue of $262.51 million for the quarter, compared to analysts’ expectations of $259.34 million. Sell-side analysts expect that Sphere Entertainment will post -11.47 earnings per share for the current 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.