Sphere Entertainment Co. (NYSE:SPHR) saw an upside of 7.73% to close Tuesday at $39.58 after adding $2.84 on the day. The 5-day average trading volume is 798,680 shares of the company’s common stock. It has gained $42.11 in the past week and touched a new high 2 times within the past 5 days. An average of 616,035 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 548,542.
SPHR’s 1-month performance is 1.46% or $1.22 on its low of $35.33 reached on 08/18/23. The company’s shares have touched a 52-week low of $18.00 and high of $43.93, with the stock’s rally to the 52-week high happening on 07/28/23. YTD, SPHR has achieved 90.63% or $19.14 and has reached a new high 32 times. However, the current price is down -9.90% from the 52-week high price.
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Insider Transactions
SPHR stock investors last saw insider trading activity on Jun 27.Sphere Entertainment Co. (10% Owner) most recently sold 6,877,553 shares at $29.76 per share on Jun 27. This transaction cost the insider $204,675,977.
Valuation Metrics
SPHR stock has a beta of 1.46. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.82 while the price-to-book (PB) in the most recent quarter is 0.68.
Sphere Entertainment Co.’s quick ratio for the period ended March 30 was 0.90, with the current ratio over the same period at 0.90. As well, the company’s long term debt to equity for the quarter ending March 30 was 0.88, while the total debt to equity was 0.93.. In terms of profitability, the gross margin trailing 12 months is 41.70%. The trailing 12-month EBITDA margin is 4.77% while for the period ending March 30, Sphere Entertainment Co.’s operating margin was -6.40%. The firm’s gross profit as reported stood at $715.37 million against revenue of $1.72 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 69.23% to -$56.85 million, while revenue of $67.58 million was 218.87% off the previous quarter. Analysts expected SPHR to announce -$0.14 per share in earnings in its latest quarter, but it posted -$1.64, representing a -1,071.40% surprise. EBITDA for the quarter stood at more than -$30.0 million. SPHR stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 4.02 billion, with total debt at $2.27 billion. Shareholders hold equity totaling $34.56 million.
Let’s look briefly at Sphere Entertainment Co. (SPHR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 56.75% to suggest the stock is trending Neutral, with historical volatility in this time period at 60.60%.
The stock’s 5-day moving average is $37.52, reflecting a +3.07% or $1.18 change from its current price. SPHR is currently trading +1.33% above its 20-day SMA, +56.33% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +49.92% and SMA200 by+88.56%.
Stochastic %K and %D was 38.79% and 23.08% and the average true range (ATR) pointed at 2.12. The RSI (14) points at 57.03%, while the 14-day stochastic is at 62.69% with the period’s ATR at 1.97. The stock’s 9-day MACD Oscillator is pointing at -0.28 and -0.52 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Sphere Entertainment Co. (NYSE: SPHR), Macquarie downgraded it to a Neutral rating. They previously had an Outperform rating on the stock. Analysts offering their rating for SPHR stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate SPHR as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is SPHR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $25.00 and a high of $26.00, with their median price target at $25.00. Looking at these predictions, the average price target given by analysts is for Sphere Entertainment Co. (SPHR) stock is $25.33.
