Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $166.00.

SPHR has been the topic of a number of recent research reports. New Street Research set a $188.00 price objective on Sphere Entertainment in a research note on Tuesday, July 14th. JPMorgan Chase & Co. cut their target price on Sphere Entertainment from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Benchmark lifted their price target on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. The Goldman Sachs Group boosted their price target on shares of Sphere Entertainment from $150.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd.

Institutional Trading of Sphere Entertainment

Several hedge funds have recently made changes to their positions in SPHR. Hollencrest Capital Management purchased a new stake in shares of Sphere Entertainment during the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd grew its position in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after acquiring an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sphere Entertainment during the fourth quarter worth $48,000. Parallel Advisors LLC increased its stake in Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after acquiring an additional 341 shares during the last quarter. Finally, Vision Retirement LLC raised its position in Sphere Entertainment by 38.0% in the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 0.6%

SPHR stock opened at $142.20 on Friday. The company has a market cap of $5.11 billion, a price-to-earnings ratio of -53.06 and a beta of 1.62. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. Sphere Entertainment has a 12 month low of $47.05 and a 12 month high of $181.63. The firm has a 50-day moving average of $152.11 and a two-hundred day moving average of $137.39.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.51) by $0.44. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%.The business had revenue of $313.64 million for the quarter, compared to analysts’ expectations of $307.44 million. During the same period in the previous year, the firm posted $3.39 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts forecast that Sphere Entertainment will post -2.34 earnings per share for the current fiscal year.

About Sphere Entertainment

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.