Sphere Entertainment (SPHR) Set to Announce Earnings on Friday

Sphere Entertainment (NYSE:SPHR) is scheduled to be posting its quarterly earnings results before the market opens on Friday, May 10th. Analysts expect Sphere Entertainment to post earnings of ($0.35) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Monday, February 5th. The company reported ($4.91) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($4.42). Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The firm had revenue of $314.16 million during the quarter, compared to analysts’ expectations of $303.28 million. During the same period in the previous year, the company earned $2.25 earnings per share. Sphere Entertainment’s revenue for the quarter was up 96.9% on a year-over-year basis. On average, analysts expect Sphere Entertainment to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $40.70 on Wednesday. Sphere Entertainment has a 12 month low of $20.68 and a 12 month high of $51.83. The stock has a market cap of $1.43 billion, a PE ratio of 3.85 and a beta of 1.46. The company’s fifty day moving average price is $44.48 and its 200-day moving average price is $38.29. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.21.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America started coverage on shares of Sphere Entertainment in a report on Wednesday, February 7th. They set a “neutral” rating and a $43.00 target price for the company. Seaport Res Ptn downgraded Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. Wolfe Research began coverage on Sphere Entertainment in a report on Wednesday, January 17th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.60.

Insider Transactions at Sphere Entertainment

In related news, CEO Andrea Greenberg sold 12,131 shares of Sphere Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $51.00, for a total value of $618,681.00. Following the completion of the sale, the chief executive officer now directly owns 76,650 shares in the company, valued at approximately $3,909,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Andrea Greenberg sold 12,131 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total value of $618,681.00. Following the sale, the chief executive officer now owns 76,650 shares in the company, valued at $3,909,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Lawrence Dolan bought 59,374 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $41.11 per share, with a total value of $2,440,865.14. Following the transaction, the chief executive officer now owns 443,900 shares in the company, valued at approximately $18,248,729. The disclosure for this purchase can be found here. Insiders acquired 245,669 shares of company stock worth $10,706,120 over the last quarter. 24.46% of the stock is currently owned by insiders.

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.