Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $106.3333.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 target price on shares of Sphere Entertainment in a report on Friday, February 13th. Benchmark upgraded shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Seaport Research Partners raised Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, January 21st. Finally, Guggenheim increased their price target on Sphere Entertainment from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 13th.

Institutional Trading of Sphere Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPHR. Geode Capital Management LLC boosted its stake in shares of Sphere Entertainment by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock valued at $27,175,000 after purchasing an additional 9,746 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sphere Entertainment during the third quarter worth $2,937,000. Quantum Private Wealth LLC bought a new position in Sphere Entertainment during the second quarter worth $238,000. Envestnet Asset Management Inc. lifted its holdings in Sphere Entertainment by 67.0% in the second quarter. Envestnet Asset Management Inc. now owns 69,387 shares of the company’s stock valued at $2,900,000 after buying an additional 27,838 shares during the period. Finally, Ariel Investments LLC lifted its holdings in Sphere Entertainment by 12.7% in the second quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock valued at $296,790,000 after buying an additional 802,098 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Down 1.1%

SPHR opened at $110.10 on Friday. The company has a 50-day simple moving average of $104.38 and a 200 day simple moving average of $83.71. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $121.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -244.67 and a beta of 1.61.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $1.35. The business had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.49) EPS. Analysts predict that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

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.