Sphere Entertainment (SPHR) to Release Quarterly Earnings on Friday

Sphere Entertainment (NYSE:SPHR - Get Free Report) will post 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. Individual interested in participating in the company's earnings conference call can do so using this link.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The company reported ($4.91) EPS for the quarter, missing the consensus estimate of ($0.49) by ($4.42). The company had revenue of $314.16 million during the quarter, compared to the consensus estimate of $303.28 million. Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.91%. Sphere Entertainment's revenue for the quarter was up 96.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 EPS. 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 Trading Up 0.5 %

Shares of SPHR stock traded up $0.21 during mid-day trading on Monday, reaching $40.72. 313,007 shares of the stock traded hands, compared to its average volume of 703,232. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.21. Sphere Entertainment has a 1-year low of $20.68 and a 1-year high of $51.83. The stock's fifty day simple moving average is $44.47 and its two-hundred day simple moving average is $38.24. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 3.85 and a beta of 1.46.

Insiders Place Their Bets

In other Sphere Entertainment news, CEO James Lawrence Dolan bought 76,139 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $40.73 per share, with a total value of $3,101,141.47. Following the completion of the transaction, the chief executive officer now directly owns 520,039 shares in the company, valued at approximately $21,181,188.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Lawrence Dolan bought 76,139 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $40.73 per share, with a total value of $3,101,141.47. Following the completion of the transaction, the chief executive officer now directly owns 520,039 shares in the company, valued at $21,181,188.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 76,650 shares of the company's stock, valued at $3,909,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 245,669 shares of company stock worth $10,706,120. Insiders own 24.46% of the company's stock.

Analysts Set New Price Targets

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

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.