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

Sphere Entertainment Co. (NYSE:SPHR) has received an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $101.2308.

SPHR has been the topic of several research analyst reports. Seaport Research Partners raised Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. New Street Research set a $110.00 price target on shares of Sphere Entertainment in a report on Thursday, January 15th. Benchmark lifted their price objective on shares of Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. BTIG Research boosted their price objective on shares of Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a research report on Friday. Finally, National Bank Financial set a $136.00 target price on shares of Sphere Entertainment in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds have recently made changes to their positions in SPHR. D.A. Davidson & CO. purchased a new position in Sphere Entertainment in the second quarter valued at about $209,000. Fox Run Management L.L.C. purchased a new position in shares of Sphere Entertainment in the 2nd quarter worth approximately $609,000. Geode Capital Management LLC grew its position in shares of Sphere Entertainment by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock worth $27,175,000 after buying an additional 9,746 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $2,937,000. Finally, Quantum Private Wealth LLC purchased a new stake in Sphere Entertainment during the second quarter valued at approximately $238,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

SPHR stock opened at $115.62 on Tuesday. The stock has a market cap of $4.08 billion, a PE ratio of -256.93 and a beta of 1.68. Sphere Entertainment has a 12 month low of $23.89 and a 12 month high of $117.50. The company has a 50-day moving average price of $94.94 and a 200 day moving average price of $72.87. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34.

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