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

Sphere Entertainment Co. (NYSE:SPHR) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $101.2308.

A number of analysts recently commented on SPHR shares. JPMorgan Chase & Co. lifted their target price on shares of Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Bank of America lifted their price objective on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Benchmark upped their target price on Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Wolfe Research reaffirmed an “outperform” rating and set a $105.00 price target on shares of Sphere Entertainment in a research report on Monday, December 15th. Finally, BTIG Research boosted their price target on Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a research note on Friday.

Institutional Trading of Sphere Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of SPHR. Hollencrest Capital Management acquired a new stake in shares of Sphere Entertainment in the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd lifted its position 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 purchasing an additional 156 shares during the period. Quent Capital LLC purchased a new stake in Sphere Entertainment in the third quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sphere Entertainment during the 4th quarter worth about $48,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Sphere Entertainment during the 4th quarter valued at about $52,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Down 0.1%

Shares of SPHR stock opened at $115.62 on Tuesday. The stock’s fifty day moving average price is $94.94 and its 200 day moving average price is $72.87. Sphere Entertainment has a 1-year low of $23.89 and a 1-year high of $117.50. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -256.93 and a beta of 1.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share 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 business had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same quarter last year, the company earned ($3.49) earnings per share. The company’s quarterly revenue was up 27.9% on a year-over-year basis. On average, research analysts expect that Sphere Entertainment will post -11.47 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.