Sphere Entertainment (SPHR) to Release Earnings on Friday

Sphere Entertainment (NYSE:SPHR) will release its earnings data before the market opens on Friday, May 10th. Analysts expect Sphere Entertainment to post earnings of ($0.35) per share for the quarter.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Monday, February 5th. The company reported ($4.91) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($4.42). Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The firm had revenue of $314.16 million for the quarter, compared to analyst estimates of $303.28 million. During the same period in the previous year, the business posted $2.25 EPS. The business’s quarterly revenue was up 96.9% on a year-over-year basis. On average, analysts expect Sphere Entertainment to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Sphere Entertainment Stock Up 2.0 %

SPHR stock traded up $0.83 during midday trading on Monday, hitting $41.34. The company’s stock had a trading volume of 100,673 shares, compared to its average volume of 700,726. Sphere Entertainment has a twelve month low of $20.68 and a twelve month high of $51.83. The stock has a market capitalization of $1.45 billion, a P/E ratio of 3.83 and a beta of 1.46. The company’s fifty day moving average price is $44.47 and its 200 day moving average price is $38.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Activity at Sphere Entertainment

In other news, CEO Andrea Greenberg sold 12,131 shares of Sphere Entertainment stock in a transaction on Friday, March 8th. The stock was sold at an average price of $51.00, for a total transaction of $618,681.00. Following the sale, the chief executive officer now directly owns 76,650 shares in the company, valued at approximately $3,909,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrea Greenberg sold 12,131 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $51.00, for a total transaction of $618,681.00. Following the transaction, the chief executive officer now directly owns 76,650 shares in the company, valued at approximately $3,909,150. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Lawrence Dolan purchased 59,374 shares of the stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $41.11 per share, with a total value of $2,440,865.14. Following the completion of the transaction, the chief executive officer now owns 443,900 shares of the company’s stock, valued at $18,248,729. The disclosure for this purchase can be found here. Over the last three months, insiders bought 245,669 shares of company stock valued at $10,706,120. 24.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SPHR shares. Seaport Res Ptn lowered Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price target on Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Wolfe Research started coverage on Sphere Entertainment in a research report on Wednesday, January 17th. They set a “peer perform” rating on the stock. Finally, Bank of America began coverage on Sphere Entertainment in a research report on Wednesday, February 7th. They set a “neutral” rating and a $43.00 price objective for the company. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.60.

Sphere Entertainment Company Profile

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.