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

Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $145.9231.

A number of research analysts have commented on the stock. Guggenheim raised their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Sphere Entertainment from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and set a $190.00 price target on shares of Sphere Entertainment in a research note on Tuesday, May 19th. Finally, Benchmark upgraded shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Wednesday, May 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPHR. Hollencrest Capital Management bought a new position in Sphere Entertainment during the fourth quarter worth about $41,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Sphere Entertainment by 53.1% in the fourth 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 last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Sphere Entertainment in the fourth quarter valued at approximately $48,000. Flagship Harbor Advisors LLC bought a new position in shares of Sphere Entertainment in the fourth quarter valued at approximately $52,000. Finally, Parallel Advisors LLC raised its stake in shares of Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after acquiring an additional 341 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 2.1%

SPHR stock opened at $131.38 on Thursday. Sphere Entertainment has a twelve month low of $36.32 and a twelve month high of $149.00. The company has a market cap of $4.66 billion, a PE ratio of 73.81 and a beta of 1.69. The business’s 50-day simple moving average is $127.36 and its 200 day simple moving average is $106.64. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share 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 period last year, the business earned ($2.27) earnings per share. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, research analysts anticipate that Sphere Entertainment will post -2.48 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.