Sphere Entertainment Co. (NYSE:SPHR - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $63.23 and last traded at $62.62, with a volume of 99343 shares trading hands. The stock had previously closed at $62.12.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Sphere Entertainment from $75.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Morgan Stanley lifted their price objective on Sphere Entertainment from $35.00 to $40.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Sphere Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. The Goldman Sachs Group upped their price target on Sphere Entertainment from $50.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Finally, Craig Hallum began coverage on Sphere Entertainment in a research report on Monday, June 23rd. They set a "buy" rating and a $75.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.00.
Read Our Latest Report on Sphere Entertainment
Sphere Entertainment Price Performance
The firm's fifty day simple moving average is $47.89 and its 200-day simple moving average is $39.61. The firm has a market capitalization of $2.23 billion, a PE ratio of -11.72 and a beta of 1.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.36.
Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of ($1.57) by $4.96. The company had revenue of $282.68 million during the quarter, compared to analyst estimates of $280.23 million. Sphere Entertainment had a negative net margin of 14.68% and a negative return on equity of 19.27%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned ($2.00) EPS. On average, research analysts forecast that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sphere Entertainment
Several hedge funds and other institutional investors have recently modified their holdings of SPHR. Two Sigma Advisers LP bought a new position in shares of Sphere Entertainment in the 4th quarter worth approximately $339,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sphere Entertainment by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company's stock worth $1,868,000 after acquiring an additional 5,849 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Sphere Entertainment during the 4th quarter worth approximately $93,000. GAMMA Investing LLC boosted its position in shares of Sphere Entertainment by 4,769.5% in the first quarter. GAMMA Investing LLC now owns 12,466 shares of the company's stock worth $381,000 after purchasing an additional 12,210 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its stake in shares of Sphere Entertainment by 3.5% in the first quarter. O Keefe Stevens Advisory Inc. now owns 198,796 shares of the company's stock worth $6,505,000 after purchasing an additional 6,652 shares in the last quarter. 92.03% of the stock is owned by institutional investors.
Sphere Entertainment Company Profile
(
Get Free Report)
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.
Further Reading
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