Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Rating of “Hold” from Analysts

Sphere Entertainment Co. (NYSE:SPHRGet Free Report) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $35.60.

Several analysts have recently issued reports on SPHR shares. JPMorgan Chase & Co. upped their price objective on Sphere Entertainment from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Wolfe Research initiated coverage on shares of Sphere Entertainment in a report on Wednesday, January 17th. They set a “peer perform” rating for the company. Bank of America began coverage on shares of Sphere Entertainment in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Seaport Res Ptn lowered shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th.

View Our Latest Stock Analysis on SPHR

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $38.56 on Tuesday. Sphere Entertainment has a twelve month low of $20.68 and a twelve month high of $51.83. The company has a market capitalization of $1.35 billion, a P/E ratio of 3.54 and a beta of 1.46. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $44.32 and a two-hundred day moving average price of $38.42.

Sphere Entertainment (NYSE:SPHRGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). Sphere Entertainment had a return on equity of 8.01% and a net margin of 43.36%. The business had revenue of $321.33 million for the quarter, compared to analysts’ expectations of $324.65 million. During the same period last year, the business earned ($1.08) earnings per share. The company’s revenue for the quarter was up 98.3% on a year-over-year basis. As a group, research analysts expect that Sphere Entertainment will post -3.89 earnings per share for the current fiscal year.

Insider Activity at Sphere Entertainment

In other Sphere Entertainment news, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the transaction, the chief executive officer now owns 76,650 shares of the company’s stock, valued at $3,909,150. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO James Lawrence Dolan bought 110,156 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $46.88 per share, for a total transaction of $5,164,113.28. Following the acquisition, the chief executive officer now owns 630,195 shares of the company’s stock, valued at $29,543,541.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrea Greenberg sold 12,131 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the completion of the transaction, the chief executive officer now owns 76,650 shares in the company, valued at approximately $3,909,150. The disclosure for this sale can be found here. Over the last three months, insiders purchased 245,669 shares of company stock worth $10,706,120. 24.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of SPHR. Ancora Advisors LLC acquired a new position in shares of Sphere Entertainment during the 3rd quarter valued at $25,000. National Bank of Canada FI acquired a new position in shares of Sphere Entertainment during the fourth quarter worth about $46,000. Citigroup Inc. purchased a new stake in shares of Sphere Entertainment in the third quarter worth about $59,000. Quest Partners LLC acquired a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $61,000. Finally, Investors Research Corp purchased a new stake in shares of Sphere Entertainment during the 3rd quarter valued at about $80,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

About Sphere Entertainment

(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.

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Analyst Recommendations for Sphere Entertainment (NYSE:SPHR)

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