Analysts Set Sphere Entertainment Co. (NYSE:SPHR) Price Target at $47.75

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.75.

SPHR has been the subject of several recent analyst reports. Guggenheim decreased their price objective on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Macquarie reduced their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Morgan Stanley reduced their price target on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $47.69 on Thursday. The firm has a market cap of $1.69 billion, a P/E ratio of -4.54 and a beta of 1.39. 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 1-year low of $32.10 and a 1-year high of $51.83. The firm has a fifty day moving average of $41.22 and a two-hundred day moving average of $42.71.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping the consensus estimate of ($3.32) by $0.37. The company had revenue of $227.90 million during the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The firm’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. As a group, research analysts anticipate that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Trading of Sphere Entertainment

Several hedge funds have recently bought and sold shares of SPHR. Blue Trust Inc. lifted its position in Sphere Entertainment by 149.5% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Sphere Entertainment by 46.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after purchasing an additional 810 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Sphere Entertainment in the 3rd quarter valued at about $187,000. Concurrent Investment Advisors LLC bought a new stake in Sphere Entertainment in the 3rd quarter valued at about $216,000. Finally, ArrowMark Colorado Holdings LLC bought a new stake in Sphere Entertainment in the 3rd quarter valued at about $219,000. 92.03% of the stock is currently owned by institutional investors.

About Sphere Entertainment

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.