Citizens Jmp Initiates Coverage on Sphere Entertainment (NYSE:SPHR)

Equities researchers at Citizens Jmp began coverage on shares of Sphere Entertainment (NYSE:SPHR) in a report issued on Monday, Marketbeat.com reports. The firm set a “market outperform” rating and a $150.00 price target on the stock. Citizens Jmp’s price objective points to a potential upside of 27.67% from the company’s current price.

Other analysts have also issued reports about the stock. Bank of America increased their price target on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Seaport Research Partners upgraded shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. BTIG Research increased their target price on shares of Sphere Entertainment from $110.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Guggenheim lifted their target price on shares of Sphere Entertainment from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Wolfe Research restated an “outperform” rating and set a $105.00 price target on shares of Sphere Entertainment in a report on Monday, December 15th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $117.49 on Monday. Sphere Entertainment has a 1-year low of $23.89 and a 1-year high of $121.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -261.09 and a beta of 1.61. The stock’s fifty day simple moving average is $107.15 and its 200-day simple moving average is $87.72.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data 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. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The firm had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same period in the prior year, the business earned ($3.49) EPS. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, sell-side analysts predict that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in Sphere Entertainment in the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd raised 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 in the last quarter. Quent Capital LLC bought a new position in Sphere Entertainment during the third quarter valued at about $30,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Sphere Entertainment in the fourth quarter worth about $48,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Sphere Entertainment during the 4th quarter worth about $52,000. Institutional investors own 92.03% of the company’s stock.

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.