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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have received an average recommendation of “Moderate Buy” from the eleven brokerages 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 twelve-month price objective among analysts that have issued a report on the stock in the last year is $122.75.

A number of research analysts have recently commented on the stock. Seaport Research Partners raised shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a report on Monday, April 20th. The Goldman Sachs Group upped their price target on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, National Bank Financial set a $136.00 price target on shares of Sphere Entertainment in a report on Thursday, January 22nd.

Sphere Entertainment Trading Up 1.5%

NYSE SPHR opened at $144.59 on Friday. The company’s fifty day simple moving average is $120.41 and its 200-day simple moving average is $98.31. Sphere Entertainment has a 52 week low of $27.17 and a 52 week high of $146.37. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.13 billion, a P/E ratio of -321.32 and a beta of 1.69.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, February 12th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $394.28 million for the quarter, compared to analysts’ expectations of $377.60 million. During the same period in the previous year, the company posted ($3.49) earnings per share. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities research analysts predict that Sphere Entertainment will post -2.51 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Steadfast Capital Management LP raised its holdings in Sphere Entertainment by 0.9% in the third quarter. Steadfast Capital Management LP now owns 1,256,497 shares of the company’s stock valued at $78,054,000 after acquiring an additional 10,720 shares in the last quarter. Holocene Advisors LP raised its holdings in Sphere Entertainment by 23.2% in the second quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock valued at $31,775,000 after acquiring an additional 142,997 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Sphere Entertainment in the fourth quarter valued at $39,909,000. Finally, Mane Global Capital Management LP acquired a new stake in Sphere Entertainment in the third quarter valued at $22,143,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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.