Sphere Entertainment (NYSE:SPHR) Price Target Cut to $145.00 by Analysts at BTIG Research

Sphere Entertainment (NYSE:SPHR) had its price target lowered by BTIG Research from $160.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on SPHR. New Street Research set a $188.00 price target on Sphere Entertainment in a research report on Tuesday, July 14th. Citigroup reaffirmed a “market outperform” rating on shares of Sphere Entertainment in a research report on Tuesday, October 6th. Weiss Ratings downgraded shares of Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Craig Hallum lowered shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price target for the company. in a research report on Monday, October 5th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $156.00 price objective on shares of Sphere Entertainment in a report on Friday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR traded up $7.75 during trading on Friday, reaching $120.08. The stock had a trading volume of 1,390,011 shares, compared to its average volume of 973,128. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $4.31 billion, a PE ratio of -25.44 and a beta of 1.72. Sphere Entertainment has a one year low of $72.08 and a one year high of $181.63. The firm’s 50 day moving average price is $124.43 and its two-hundred day moving average price is $130.43.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing the consensus estimate of ($1.66) by ($3.18). Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The business had revenue of $274.26 million for the quarter, compared to the consensus estimate of $269.71 million. During the same quarter in the previous year, the firm earned ($2.80) EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts forecast that Sphere Entertainment will post -2.70 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

Several institutional investors have recently bought and sold shares of SPHR. Signaturefd LLC boosted its stake in Sphere Entertainment by 204.9% during the 3rd quarter. Signaturefd LLC now owns 186 shares of the company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Polaris Financial Partners bought a new stake in Sphere Entertainment during the 3rd quarter worth about $43,000. Parallel Advisors LLC grew its stake in Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after purchasing an additional 341 shares in the last quarter. Vision Retirement LLC increased its holdings in Sphere Entertainment by 38.0% during the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock worth $57,000 after buying an additional 133 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Sphere Entertainment by 19.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Key Stories Impacting Sphere Entertainment

Here are the key news stories impacting Sphere Entertainment this week:

• Positive Sentiment: Strong ticket sales at Sphere: “The Wizard of Oz” exceeded $500 million in ticket sales, with more than four million tickets sold since its August debut. The company also introduced expanded 4D effects, supporting the potential for continued audience demand. Sphere Entertainment Q3 results
• Positive Sentiment: Revenue topped expectations: Q3 revenue was $274.26 million, above analyst estimates of about $269.7 million and up 4.5% year over year. Zacks also reported a per-share loss of $0.98, narrower than its consensus estimate of a $1.79 loss. Zacks Q3 earnings report
• Positive Sentiment: Guggenheim remains bullish: The firm cut its price target from $180 to $175 but maintained a Buy rating, implying substantial upside from the then-current price. The target reduction tempers, but does not reverse, the favorable stance. Guggenheim price-target update
• Negative Sentiment: Reported loss was a concern: Other earnings coverage cited a loss of $4.84 per share, far worse than the $1.66 consensus estimate. This contrasts with the narrower loss cited by Zacks, suggesting results varied across reported earnings measures and may have weighed on sentiment. Coverage of Sphere’s wider Q3 loss

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.