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

Sphere Entertainment Co. (NYSE:SPHR) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $145.9231.

A number of brokerages have issued reports on SPHR. The Goldman Sachs Group boosted their price target on Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th. Finally, Citizens Jmp increased their target price on Sphere Entertainment from $150.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi acquired a new position in shares of Sphere Entertainment in the first quarter worth $212,000. California State Teachers Retirement System grew its holdings in Sphere Entertainment by 23.6% in the 1st quarter. California State Teachers Retirement System now owns 30,255 shares of the company’s stock worth $3,552,000 after buying an additional 5,785 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Sphere Entertainment by 84.9% during the 1st quarter. Quantinno Capital Management LP now owns 36,822 shares of the company’s stock valued at $4,323,000 after purchasing an additional 16,907 shares in the last quarter. Entropy Technologies LP lifted its holdings in shares of Sphere Entertainment by 75.5% in the first quarter. Entropy Technologies LP now owns 11,403 shares of the company’s stock valued at $1,339,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Sphere Entertainment by 24.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 523,934 shares of the company’s stock worth $61,510,000 after buying an additional 104,192 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Stock Performance

SPHR stock opened at $131.38 on Thursday. The company has a market capitalization of $4.66 billion, a P/E ratio of 73.81 and a beta of 1.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50-day moving average price of $127.36 and a 200 day moving average price of $106.64. Sphere Entertainment has a 1-year low of $36.32 and a 1-year high of $149.00.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the previous year, the firm earned ($2.27) earnings per share. The company’s revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts forecast that Sphere Entertainment will post -2.48 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.