Sphere Entertainment (NYSE:SPHR - Get Free Report) released its quarterly earnings results on Monday. The company reported ($3.49) earnings per share for the quarter, missing the consensus estimate of ($2.15) by ($1.34), Zacks reports. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%.
Sphere Entertainment Price Performance
Shares of NYSE SPHR traded down $5.94 during mid-day trading on Monday, reaching $37.69. The company had a trading volume of 1,777,921 shares, compared to its average volume of 682,604. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -3.59 and a beta of 1.39. The business's 50-day simple moving average is $43.53 and its 200 day simple moving average is $43.14. Sphere Entertainment has a one year low of $32.10 and a one year high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56.
Wall Street Analyst Weigh In
SPHR has been the topic of several research reports. Macquarie lowered their target price on Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Guggenheim decreased their price objective on Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Finally, Morgan Stanley dropped their target price on Sphere Entertainment from $45.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of "Hold" and an average target price of $47.75.
Read Our Latest Analysis on SPHR
About Sphere Entertainment
(
Get Free Report)
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.
Further Reading
Before you consider Sphere Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sphere Entertainment wasn't on the list.
While Sphere Entertainment currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
