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

Sphere Entertainment Co. (NYSE:SPHR) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $145.9231.

A number of research firms have issued reports on SPHR. Weiss Ratings raised Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Benchmark raised Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Guggenheim lifted their target price on Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Bank of America lifted their target price on Sphere Entertainment from $110.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th.

Hedge Funds Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its holdings in Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares during the period. Vision Retirement LLC boosted its holdings in Sphere Entertainment by 38.0% during the 1st 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 period. Price T Rowe Associates Inc. MD boosted its holdings in Sphere Entertainment by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock valued at $3,448,000 after acquiring an additional 145 shares during the period. Arizona State Retirement System boosted its holdings in Sphere Entertainment by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 7,758 shares of the company’s stock valued at $482,000 after acquiring an additional 152 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Sphere Entertainment by 53.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $141.68 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 1.22. Sphere Entertainment has a 1 year low of $36.32 and a 1 year high of $149.00. The stock’s 50 day simple moving average is $130.33 and its two-hundred day simple moving average is $108.84. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 79.60 and a beta of 1.64.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the previous year, the company posted ($2.27) EPS. The company’s revenue was up 37.7% compared to the same quarter last year. As a group, equities analysts anticipate that Sphere Entertainment will post -2.48 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.