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

Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $163.3846.

A number of brokerages have recently weighed in on SPHR. Benchmark increased their target price on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Seaport Research Partners restated a “buy” rating and issued a $173.00 price target on shares of Sphere Entertainment in a research note on Wednesday, June 17th. Weiss Ratings raised Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Susquehanna increased their price objective on Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research report on Thursday, June 18th. Finally, BTIG Research reissued a “buy” rating and set a $190.00 target price on shares of Sphere Entertainment in a report on Monday, August 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPHR. Hollencrest Capital Management acquired a new position in shares of Sphere Entertainment in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Sphere Entertainment by 53.1% during the 4th 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. Parallel Advisors LLC boosted its position in shares of Sphere Entertainment by 275.0% during the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after acquiring an additional 341 shares in the last quarter. Vision Retirement LLC increased its stake in Sphere Entertainment by 38.0% in the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after acquiring an additional 133 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Sphere Entertainment in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of SPHR opened at $163.08 on Tuesday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -60.85 and a beta of 1.65. Sphere Entertainment has a 1-year low of $37.89 and a 1-year high of $174.60. The company’s fifty day simple moving average is $150.41 and its 200 day simple moving average is $129.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. The firm had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%.The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.39 earnings per share. On average, research analysts forecast that Sphere Entertainment will post -2.3 earnings per share 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.