Sphere Entertainment (NYSE:SPHR) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Sphere Entertainment (NYSE:SPHR – Free Report) from a hold rating to a sell rating in a report issued on Monday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. New Street Research set a $188.00 price target on shares of Sphere Entertainment in a research note on Tuesday, July 14th. Craig Hallum lowered shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price objective on the stock. in a report on Monday, October 5th. Susquehanna reaffirmed a “positive” rating and issued a $156.00 price objective on shares of Sphere Entertainment in a research note on Friday, November 6th. BTIG Research lowered their target price on shares of Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating for the company in a report on Friday, November 6th. Finally, Guggenheim lowered their target price on shares of Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.60.

View Our Latest Analysis on SPHR

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $126.79 on Monday. The stock has a 50-day moving average price of $123.61 and a 200 day moving average price of $130.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of -26.86 and a beta of 1.72. Sphere Entertainment has a 12 month low of $73.03 and a 12 month high of $181.63.

Sphere Entertainment (NYSE:SPHR – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing the consensus estimate of ($1.66) by ($3.18). The firm had revenue of $274.26 million for the quarter, compared to the consensus estimate of $269.71 million. Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.80) earnings per share. Research analysts expect that Sphere Entertainment will post -5.43 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Sphere Entertainment by 7.1% in the 2nd quarter. GAMMA Investing LLC now owns 961 shares of the company’s stock worth $166,000 after purchasing an additional 64 shares during the period. Arizona State Retirement System increased its holdings in Sphere Entertainment by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 7,111 shares of the company’s stock worth $1,230,000 after purchasing an additional 75 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Sphere Entertainment by 19.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the period. Putney Financial Group LLC raised its stake in shares of Sphere Entertainment by 2.9% in the 3rd quarter. Putney Financial Group LLC now owns 4,192 shares of the company’s stock valued at $564,000 after purchasing an additional 117 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Sphere Entertainment by 204.9% in the 3rd quarter. Signaturefd LLC now owns 186 shares of the company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

About Sphere Entertainment

(Get Free Report)

Sphere Entertainment Co. is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications. MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.

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