Sphere Entertainment Co. (NYSE:SPHR) Receives $151.15 Consensus Target Price from Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $151.1538.

SPHR has been the subject of several research analyst reports. Guggenheim lifted their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th. Seaport Research Partners reaffirmed a “buy” rating and issued a $173.00 price target on shares of Sphere Entertainment in a research report on Wednesday, June 17th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $170.00 price objective on shares of Sphere Entertainment in a research note on Wednesday, May 6th.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $169.69 on Monday. The company has a 50 day moving average price of $140.49 and a 200-day moving average price of $117.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.22. Sphere Entertainment has a fifty-two week low of $37.89 and a fifty-two week high of $171.47. The company has a market capitalization of $6.02 billion, a PE ratio of 95.33 and a beta of 1.65.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.27. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The firm had revenue of $386.41 million during the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the previous year, the firm posted ($2.27) earnings per share. The company’s revenue was up 37.7% on a year-over-year basis. As a group, equities analysts forecast that Sphere Entertainment will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of SPHR. Hollencrest Capital Management purchased a new position in Sphere Entertainment during the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd increased its holdings in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after buying an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Sphere Entertainment during the fourth quarter valued at approximately $48,000. Flagship Harbor Advisors LLC purchased a new position in Sphere Entertainment during the fourth quarter valued at approximately $52,000. Finally, Parallel Advisors LLC increased its holdings in Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after buying an additional 341 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.