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

Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $48.70.

A number of research analysts recently weighed in on the stock. Susquehanna assumed coverage on shares of Sphere Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $37.00 target price for the company. The Goldman Sachs Group set a $36.00 target price on shares of Sphere Entertainment and gave the company a "buy" rating in a report on Friday, April 18th. Guggenheim raised their target price on shares of Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley cut their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen lowered shares of Sphere Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st.

Sphere Entertainment Trading Up 1.9%

Shares of SPHR opened at $43.31 on Monday. The company has a 50 day simple moving average of $37.03 and a two-hundred day simple moving average of $37.41. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market cap of $1.55 billion, a P/E ratio of -4.32 and a beta of 1.66.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, beating 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 analyst estimates of $285.01 million. During the same period last year, the firm posted ($1.33) earnings per share. Sphere Entertainment's revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities analysts expect that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPHR. US Bancorp DE grew its holdings in shares of Sphere Entertainment by 3.8% in the fourth quarter. US Bancorp DE now owns 7,511 shares of the company's stock worth $303,000 after purchasing an additional 276 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sphere Entertainment by 2.0% in the fourth 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Sphere Entertainment in the fourth quarter worth about $2,656,000. OFI Invest Asset Management bought a new position in shares of Sphere Entertainment in the fourth quarter worth about $306,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Sphere Entertainment in the fourth quarter worth about $11,286,000. 92.03% of the stock is currently owned by 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.

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