Analysts Update Their Price Forecasts For Sphere Entertainment Co (SPHR)

Sphere Entertainment Co (SPHR) concluded trading on Thursday at a closing price of $49.08, with 0.46 million shares of worth about $22.37 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 33.62% during that period and on March 28, 2024 the price saw a loss of about -0.39%. Currently the company’s common shares owned by public are about 27.81M shares, out of which, 26.44M shares are available for trading.

Stock saw a price change of 5.30% in past 5 days and over the past one month there was a price change of 20.32%. Year-to-date (YTD), SPHR shares are showing a performance of 44.52% which increased to 92.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.68 but also hit the highest price of $51.83 during that period. The average intraday trading volume for Sphere Entertainment Co shares is 724.44K. The stock is currently trading 3.99% above its 20-day simple moving average (SMA20), while that difference is up 18.62% for SMA50 and it goes to 34.54% higher than SMA200.

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Sphere Entertainment Co (NYSE: SPHR) currently have 27.81M outstanding shares and institutions hold larger chunk of about 98.11% of that.

The stock has a current market capitalization of $1.72B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 4.64, while it has posted earnings per share of $10.58 in the same period. It has Quick Ratio of 0.62 while making debt-to-equity ratio of 0.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SPHR, volatility over the week remained 3.97% while standing at 4.33% over the month.

Analysts are in expectations that Sphere Entertainment Co (SPHR) stock would likely to be making an EPS of -$0.33 in the current quarter, while forecast for next quarter EPS is -$0.86 and it is -$1.91 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.08 which is $0.58 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.64 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -174.80% while it is estimated to increase by 25.40% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on February 07, 2024 offering a Neutral rating for the stock and assigned a target price of $43 to it. On December 07, 2023, Seaport Research Partners Upgrade their recommendations, while on December 06, 2023, Guggenheim Upgrade their ratings for the stock with a price target of $40. Stock get a Neutral rating from Macquarie on June 01, 2023.

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