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

Sphere Entertainment Co. (NYSE:SPHR) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $151.1538.

Several brokerages have issued reports on SPHR. JPMorgan Chase & Co. boosted their price objective 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. Guggenheim boosted their price objective 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. BTIG Research reissued a “buy” rating and issued a $190.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, May 19th. Seaport Research Partners reissued a “buy” rating and issued a $173.00 price objective on shares of Sphere Entertainment in a research note on Wednesday. Finally, Benchmark boosted their price objective on shares of Sphere Entertainment from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday.

Hedge Funds Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of SPHR. Rockefeller Capital Management L.P. raised its position in Sphere Entertainment by 19.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after acquiring an additional 100 shares in the last quarter. 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 worth $57,000 after acquiring an additional 133 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Sphere Entertainment by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock worth $3,448,000 after acquiring an additional 145 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 in the last quarter. Finally, Putney Financial Group LLC raised its position in Sphere Entertainment by 4.2% in the fourth quarter. Putney Financial Group LLC now owns 4,475 shares of the company’s stock worth $425,000 after acquiring an additional 180 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Stock Up 0.2%

Shares of NYSE:SPHR opened at $157.68 on Monday. The company has a market capitalization of $5.60 billion, a PE ratio of 88.59 and a beta of 1.65. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. Sphere Entertainment has a twelve month low of $37.89 and a twelve month high of $160.36. The firm has a 50 day simple moving average of $137.52 and a 200-day simple moving average of $114.69.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping 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 business 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 earned ($2.27) EPS. The company’s revenue was up 37.7% compared to the same quarter last year. On average, equities analysts predict that Sphere Entertainment will post -2.44 EPS 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.