Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Rating of "Hold" by Brokerages

Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) has earned an average rating of "Hold" from the nine research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $47.75.

A number of brokerages have recently weighed in on SPHR. Morgan Stanley dropped their price objective 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 dropped their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, Macquarie cut their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, November 13th.

Sphere Entertainment Stock Up 0.3 %

Shares of NYSE:SPHR traded up $0.12 during trading hours on Thursday, hitting $47.53. The company's stock had a trading volume of 390,271 shares, compared to its average volume of 588,396. The firm's fifty day moving average price is $41.22 and its 200 day moving average price is $42.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.53 and a beta of 1.39. Sphere Entertainment has a 52 week low of $32.10 and a 52 week high of $51.83.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.32) by $0.37. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The business had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. During the same period in the prior year, the firm posted $1.90 earnings per share. The business's quarterly revenue was up 93.1% on a year-over-year basis. As a group, research analysts expect that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Trading of Sphere Entertainment

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Sphere Entertainment by 1.2% in the third quarter. Victory Capital Management Inc. now owns 22,438 shares of the company's stock valued at $991,000 after buying an additional 271 shares during the last quarter. US Bancorp DE raised its stake in shares of Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company's stock valued at $303,000 after acquiring an additional 276 shares during the period. Covestor Ltd lifted its holdings in shares of Sphere Entertainment by 3.5% in the 3rd quarter. Covestor Ltd now owns 9,077 shares of the company's stock worth $401,000 after acquiring an additional 305 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sphere Entertainment by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,177 shares of the company's stock worth $462,000 after purchasing an additional 359 shares during the period. Finally, Marshall Wace LLP increased its holdings in Sphere Entertainment by 5.8% in the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company's stock valued at $267,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors 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.