Sphere Entertainment Co. (NYSE:SPHR) Receives $101.23 Consensus Target Price from Brokerages

Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.2308.

A number of research analysts have commented on SPHR shares. New Street Research set a $110.00 price objective on Sphere Entertainment in a research note on Thursday, January 15th. BTIG Research raised their price objective on Sphere Entertainment from $110.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Seaport Research Partners upgraded shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Guggenheim lifted their target price on Sphere Entertainment from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, January 21st.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $111.08 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. Sphere Entertainment has a 1-year low of $23.89 and a 1-year high of $118.14. The firm has a market capitalization of $3.92 billion, a P/E ratio of -246.84 and a beta of 1.68. The business’s 50-day simple moving average is $97.49 and its 200-day simple moving average is $75.42.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.23 EPS for the quarter, beating 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 firm had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. During the same quarter last year, the firm posted ($3.49) earnings per share. Sphere Entertainment’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities analysts predict that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sphere Entertainment by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock valued at $3,448,000 after purchasing an additional 145 shares during the last quarter. Arizona State Retirement System raised 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 worth $482,000 after buying an additional 152 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after buying an additional 156 shares in the last quarter. Putney Financial Group LLC boosted its holdings in shares of Sphere Entertainment by 4.2% in the fourth quarter. Putney Financial Group LLC now owns 4,475 shares of the company’s stock worth $425,000 after buying an additional 180 shares during the period. Finally, ORG Partners LLC increased its position in shares of Sphere Entertainment by 35.4% in the fourth quarter. ORG Partners LLC now owns 895 shares of the company’s stock worth $85,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

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.