Guggenheim Issues Positive Forecast for Sphere Entertainment (NYSE:SPHR) Stock Price

by · The Markets Daily

Sphere Entertainment (NYSE:SPHR – Free Report) had its price objective upped by Guggenheim from $78.00 to $90.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on SPHR. Wall Street Zen upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. BTIG Research began coverage on Sphere Entertainment in a research note on Monday, October 6th. They issued a “neutral” rating for the company. The Goldman Sachs Group upped their target price on Sphere Entertainment from $50.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. upped their target price on Sphere Entertainment from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sphere Entertainment has a consensus rating of “Hold” and an average price target of $63.88.

Read Our Latest Stock Report on SPHR

Sphere Entertainment Stock Performance

SPHR opened at $73.47 on Wednesday. The business has a fifty day simple moving average of $59.82 and a 200 day simple moving average of $46.09. The company has a market capitalization of $2.63 billion, a PE ratio of -14.21 and a beta of 1.79. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $74.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.13 and a quick ratio of 1.13.

Sphere Entertainment (NYSE:SPHR – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.62) by $0.25. The business had revenue of $262.51 million during the quarter, compared to the consensus estimate of $259.34 million. Sphere Entertainment had a negative return on equity of 17.01% and a negative net margin of 13.87%. Research analysts expect that Sphere Entertainment will post -11.47 EPS for the current year.

Hedge Funds Weigh In On Sphere Entertainment

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of Sphere Entertainment by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 7,758 shares of the company’s stock worth $482,000 after buying an additional 152 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Sphere Entertainment by 80.1% during the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after buying an additional 294 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Sphere Entertainment by 1.6% during the 2nd quarter. First Trust Advisors LP now owns 20,610 shares of the company’s stock worth $861,000 after buying an additional 315 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Sphere Entertainment by 3.9% during the 3rd quarter. AlphaQuest LLC now owns 8,461 shares of the company’s stock worth $526,000 after buying an additional 321 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Sphere Entertainment by 95.3% during the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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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