Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Rating of “Moderate Buy” from Analysts

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $54.00.

A number of research analysts have recently commented on SPHR shares. Wall Street Zen raised shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Craig Hallum started coverage on shares of Sphere Entertainment in a research note on Monday, June 23rd. They set a “buy” rating and a $75.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Sphere Entertainment from $50.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Guggenheim boosted their price objective on shares of Sphere Entertainment from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Morgan Stanley boosted their price objective on shares of Sphere Entertainment from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake 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 last quarter. CWM LLC grew its stake 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 last quarter. Public Employees Retirement System of Ohio acquired a new position in Sphere Entertainment in the 4th quarter valued at about $93,000. Tower Research Capital LLC TRC grew its stake 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 last quarter. Finally, Headlands Technologies LLC acquired a new position in Sphere Entertainment in the 1st quarter valued at about $123,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Up 2.7%

Sphere Entertainment stock opened at $59.14 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of -11.12 and a beta of 1.74. Sphere Entertainment has a 1-year low of $23.89 and a 1-year high of $62.85. The company has a fifty day simple moving average of $47.04 and a 200 day simple moving average of $38.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Monday, August 11th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 14.68% and a negative return on equity of 19.27%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.00) earnings per share. Research analysts anticipate that Sphere Entertainment will post -11.47 earnings per share for the current fiscal 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.