Sphere Entertainment Co. (NYSE:SPHR) Receives $45.78 Average PT from Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) have been assigned an average recommendation of "Hold" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $45.78.

Several brokerages recently commented on SPHR. Guggenheim lifted their target price on shares of Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group set a $36.00 target price on shares of Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. Morgan Stanley decreased their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Benchmark reaffirmed a "sell" rating and issued a $35.00 target price on shares of Sphere Entertainment in a research note on Monday, May 19th. Finally, Macquarie decreased their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th.

Sphere Entertainment Trading Down 1.8%

Shares of SPHR traded down $0.70 during mid-day trading on Thursday, reaching $39.12. The company's stock had a trading volume of 334,175 shares, compared to its average volume of 814,881. The stock has a market cap of $1.40 billion, a PE ratio of -3.73 and a beta of 1.65. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment has a 52 week low of $23.89 and a 52 week high of $50.88. The company's fifty day moving average price is $32.37 and its two-hundred day moving average price is $37.25.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, topping analysts' consensus estimates of ($2.48) by $0.21. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The firm had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. During the same period in the previous year, the business posted ($1.33) EPS. The business's quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts predict that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock valued at $34,000 after purchasing an additional 760 shares during the period. Ancora Advisors LLC bought a new position in shares of Sphere Entertainment in the 4th quarter worth about $40,000. Tower Research Capital LLC TRC increased its stake in shares of Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock worth $53,000 after acquiring an additional 681 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Sphere Entertainment in the 4th quarter worth about $93,000. Finally, Headlands Technologies LLC bought a new position in shares of Sphere Entertainment in the 1st quarter worth about $123,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.