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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $110.4615.

SPHR has been the topic of several recent research reports. Guggenheim boosted their price objective on shares of Sphere Entertainment from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, January 21st. New Street Research set a $110.00 target price on shares of Sphere Entertainment in a research note on Thursday, January 15th. Citizens Jmp started coverage on shares of Sphere Entertainment in a research note on Monday, March 30th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Wolfe Research reissued an “outperform” rating and issued a $105.00 target price on shares of Sphere Entertainment in a research note on Monday, December 15th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPHR. Royal Bank of Canada raised its stake in Sphere Entertainment by 5.5% in the 1st quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock valued at $4,928,000 after purchasing an additional 7,891 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sphere Entertainment by 5.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock valued at $532,000 after purchasing an additional 831 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Sphere Entertainment by 132.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Legal & General Group Plc raised its stake in Sphere Entertainment by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 30,752 shares of the company’s stock valued at $1,285,000 after purchasing an additional 3,103 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Sphere Entertainment by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 49,538 shares of the company’s stock valued at $2,071,000 after purchasing an additional 4,433 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Sphere Entertainment stock opened at $124.41 on Wednesday. Sphere Entertainment has a 52 week low of $23.89 and a 52 week high of $130.33. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $110.04 and its 200 day simple moving average is $90.00. The firm has a market capitalization of $4.42 billion, a PE ratio of -276.47 and a beta of 1.67.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The business had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. During the same period in the previous year, the firm earned ($3.49) EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, equities research analysts predict that Sphere Entertainment will post -11.47 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.