Sphere Entertainment (SPHR) Set to Announce Quarterly 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. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Monday, February 5th. The company reported ($4.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The company had revenue of $314.16 million for the quarter, compared to the consensus estimate of $303.28 million. Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.91%. The company’s revenue was up 96.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. 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 Down 2.2 %

Shares of NYSE:SPHR opened at $39.79 on Thursday. The stock has a 50 day moving average of $44.48 and a 200 day moving average of $38.29. The company has a market cap of $1.40 billion, a PE ratio of 3.76 and a beta of 1.46. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.21. Sphere Entertainment has a 12-month low of $20.68 and a 12-month high of $51.83.

Insider Activity

In other news, CEO Andrea Greenberg sold 12,131 shares of the business’s stock in a transaction that occurred 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 owns 76,650 shares of the company’s stock, valued at approximately $3,909,150. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Sphere Entertainment news, CEO Andrea Greenberg sold 12,131 shares of the company’s stock in a transaction on 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 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 accessible through this hyperlink. Also, CEO James Lawrence Dolan acquired 59,374 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $41.11 per share, for a total transaction of $2,440,865.14. Following the transaction, the chief executive officer now directly owns 443,900 shares in the company, valued at $18,248,729. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 245,669 shares of company stock valued at $10,706,120. 24.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Seaport Res Ptn cut Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. Bank of America assumed coverage on Sphere Entertainment in a report on Wednesday, February 7th. They issued a “neutral” rating and a $43.00 price target on the stock. Wolfe Research assumed coverage on Sphere Entertainment in a report on Wednesday, January 17th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Sphere Entertainment currently has an average rating of “Hold” and a consensus price target 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.