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

Sphere Entertainment Co. (NYSE:SPHR) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. One investment analyst has 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 target price among brokerages that have issued a report on the stock in the last year is $106.3333.

Several equities research analysts have commented on the company. Benchmark upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, February 17th. New Street Research set a $110.00 price objective on Sphere Entertainment in a research note on Thursday, January 15th. Guggenheim boosted their target price on Sphere Entertainment from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 13th. BTIG Research increased their target price on shares of Sphere Entertainment from $110.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $135.00 price target on shares of Sphere Entertainment in a report on Friday, February 13th.

Hedge Funds Weigh In On Sphere Entertainment

A number of hedge funds have recently made changes to their positions in SPHR. Ariel Investments LLC lifted its holdings in shares of Sphere Entertainment by 12.7% during the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock valued at $296,790,000 after acquiring an additional 802,098 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Sphere Entertainment during the 4th quarter worth $39,909,000. Goldman Sachs Group Inc. increased its holdings 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 in the last quarter. Mane Global Capital Management LP purchased a new position in Sphere Entertainment in the third quarter valued at about $22,143,000. Finally, Woodline Partners LP purchased a new position in Sphere Entertainment in the third quarter valued at about $20,503,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 3.9%

Shares of NYSE SPHR opened at $105.65 on Friday. The stock has a market capitalization of $3.75 billion, a PE ratio of -234.77 and a beta of 1.61. 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 has a fifty day moving average of $103.29 and a 200-day moving average of $82.05. Sphere Entertainment has a 52-week low of $23.89 and a 52-week high of $121.93.

Sphere Entertainment (NYSE:SPHR) last issued its 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. The business had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the company posted ($3.49) EPS. On average, analysts anticipate that Sphere Entertainment will post -11.47 EPS for the current 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.