Sphere Entertainment (NYSE:SPHR) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Sphere Entertainment (NYSE:SPHR) from a sell rating to a hold rating in a research report released on Sunday morning,Wall Street Zen reports.

Several other brokerages have also weighed in on SPHR. Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Susquehanna cut their price objective on Sphere Entertainment from $182.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, October 21st. Guggenheim dropped their price objective on shares of Sphere Entertainment from $208.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Morgan Stanley reduced their target price on shares of Sphere Entertainment from $170.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, October 27th. Finally, Craig Hallum cut Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price target for the company. in a research report on Monday, October 5th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.93.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR opened at $109.05 on Friday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -40.69 and a beta of 1.61. The stock’s fifty day moving average price is $129.05 and its two-hundred day moving average price is $130.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.22 and a quick ratio of 1.22. Sphere Entertainment has a one year low of $64.00 and a one year high of $181.63.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The firm had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. During the same period in the prior year, the firm earned $3.39 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that Sphere Entertainment will post -2.70 EPS for the current year.

Institutional Trading of Sphere Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Sphere Entertainment by 204.9% in the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Polaris Financial Partners bought a new position in Sphere Entertainment during the third quarter valued at about $43,000. Parallel Advisors LLC lifted its holdings in Sphere Entertainment by 275.0% during the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after purchasing an additional 341 shares during the last quarter. Vision Retirement LLC lifted its holdings in Sphere Entertainment by 38.0% during the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock worth $57,000 after acquiring an additional 133 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Sphere Entertainment by 19.7% during 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 last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

About Sphere Entertainment

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.