Sphere Entertainment Co. (NYSE:SPHR) Receives Average Recommendation of "Hold" from Analysts

Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) has been given a consensus recommendation of "Hold" by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $45.78.

A number of equities analysts recently commented on SPHR shares. Guggenheim increased their price objective on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, May 9th. The Goldman Sachs Group set a $36.00 price target on shares of Sphere Entertainment and gave the company a "buy" rating in a report on Friday, April 18th. Macquarie decreased their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Benchmark restated a "sell" rating and set a $35.00 target price on shares of Sphere Entertainment in a report on Monday. Finally, Morgan Stanley decreased their price target on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th.

Insider Activity

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its position in Sphere Entertainment by 295.6% in the third quarter. Barclays PLC now owns 66,045 shares of the company's stock valued at $2,809,000 after buying an additional 49,351 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sphere Entertainment by 98.9% in the third quarter. JPMorgan Chase & Co. now owns 78,714 shares of the company's stock valued at $3,348,000 after acquiring an additional 39,147 shares during the last quarter. O Keefe Stevens Advisory Inc. boosted its holdings in shares of Sphere Entertainment by 2.5% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 192,144 shares of the company's stock worth $7,747,000 after acquiring an additional 4,643 shares in the last quarter. SG Americas Securities LLC grew its position in Sphere Entertainment by 101.6% during the 4th quarter. SG Americas Securities LLC now owns 11,504 shares of the company's stock worth $464,000 after acquiring an additional 5,799 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after purchasing an additional 912 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Sphere Entertainment Trading Down 1.7%

NYSE SPHR traded down $0.65 on Friday, hitting $36.94. 123,571 shares of the company were exchanged, compared to its average volume of 811,027. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $50.88. The firm has a market capitalization of $1.32 billion, a P/E ratio of -3.50 and a beta of 1.51. The company's 50 day moving average price is $30.71 and its 200-day moving average price is $37.64.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.21. The business had revenue of $280.57 million during the quarter, compared to analysts' expectations of $285.01 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. Sphere Entertainment's revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.33) earnings per share. Analysts predict 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.