Sphere Entertainment (SPHR) to Release Quarterly Earnings on Friday

Sphere Entertainment (NYSE:SPHR) is set to issue its quarterly earnings data before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of ($0.35) per share for the quarter.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Monday, February 5th. The company reported ($4.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.91%. The business had revenue of $314.16 million during the quarter, compared to the consensus estimate of $303.28 million. During the same period in the previous year, the business posted $2.25 EPS. The firm’s 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 Trading Up 2.0 %

Shares of SPHR traded up $0.83 during midday trading on Monday, reaching $41.34. The company had a trading volume of 100,673 shares, compared to its average volume of 700,726. The firm has a 50 day simple moving average of $44.47 and a 200-day simple moving average of $38.21. Sphere Entertainment has a 1-year low of $20.68 and a 1-year high of $51.83. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.45 billion, a PE ratio of 3.83 and a beta of 1.46.

Insider Buying and Selling

In related news, CEO Andrea Greenberg sold 12,131 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $51.00, for a total value of $618,681.00. Following the completion of the transaction, the chief executive officer now owns 76,650 shares of the company’s stock, valued at approximately $3,909,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO James Lawrence Dolan purchased 76,139 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $40.73 per share, for a total transaction of $3,101,141.47. Following the completion of the acquisition, the chief executive officer now directly owns 520,039 shares in the company, valued at approximately $21,181,188.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrea Greenberg sold 12,131 shares of Sphere Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $51.00, for a total value of $618,681.00. Following the transaction, the chief executive officer now directly owns 76,650 shares in the company, valued at $3,909,150. The disclosure for this sale can be found here. In the last quarter, insiders purchased 245,669 shares of company stock valued at $10,706,120. 24.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Sphere Entertainment

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.