Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $48.70.

A number of analysts have recently commented on SPHR shares. Susquehanna began coverage on Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 price target on the stock. Guggenheim raised their target price on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Benchmark reaffirmed a "sell" rating and set a $35.00 price objective on shares of Sphere Entertainment in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their price objective on shares of Sphere Entertainment from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley cut 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.

Sphere Entertainment Price Performance

Sphere Entertainment stock traded up $0.67 during trading hours on Monday, reaching $42.96. 664,512 shares of the stock were exchanged, compared to its average volume of 806,081. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $50.88. The company has a market cap of $1.54 billion, a P/E ratio of -4.29 and a beta of 1.66. The stock has a 50 day moving average of $37.90 and a two-hundred day moving average of $37.51.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, topping analysts' consensus estimates of ($2.48) by $0.21. Sphere Entertainment had a negative net margin of 33.00% and a negative return on equity of 16.78%. The firm had revenue of $280.57 million during the quarter, compared to analysts' expectations of $285.01 million. During the same quarter in the prior year, the business earned ($1.33) earnings per share. The business's revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts expect that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew 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 worth $303,000 after acquiring an additional 276 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Sphere Entertainment by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,282 shares of the company's stock worth $9,043,000 after purchasing an additional 4,490 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Sphere Entertainment in the 4th quarter valued at about $2,656,000. OFI Invest Asset Management bought a new position in shares of Sphere Entertainment during the 4th quarter worth approximately $306,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Sphere Entertainment in the 4th quarter worth approximately $11,286,000. 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.