Sphere Entertainment (NYSE:SPHR) Stock Gets Price Target Trim from Susquehanna

Sphere Entertainment (NYSE:SPHR) had its target price decreased by Susquehanna from $182.00 to $158.00 in a research report report published on Wednesday, MarketBeat.com reports. Susquehanna currently has a positive rating on the stock.

Several other analysts have also recently issued reports on SPHR. Citigroup restated a “market outperform” rating on shares of Sphere Entertainment in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lowered their price target on shares of Sphere Entertainment from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, July 31st. The Goldman Sachs Group lifted their price target on Sphere Entertainment from $150.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler started coverage on Sphere Entertainment in a research note on Thursday, August 20th. They set an “overweight” rating and a $185.00 price objective on the stock. Finally, Seaport Research Partners set a $160.00 price objective on Sphere Entertainment in a research report on Wednesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.27.

Sphere Entertainment Trading Down 2.3%

Shares of SPHR opened at $109.07 on Wednesday. The company’s fifty day moving average is $133.74 and its 200 day moving average is $140.42. Sphere Entertainment has a fifty-two week low of $64.00 and a fifty-two week high of $181.63. The stock has a market capitalization of $3.92 billion, a PE ratio of -40.70 and a beta of 1.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The company had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. During the same quarter in the prior year, the firm earned $3.39 earnings per share. Sphere Entertainment’s revenue was up 10.9% on a year-over-year basis. Sell-side analysts expect that Sphere Entertainment will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sphere Entertainment

A number of large investors have recently bought and sold shares of SPHR. TD Waterhouse Canada Inc. increased its position in shares of Sphere Entertainment by 31,980.0% during the second quarter. TD Waterhouse Canada Inc. now owns 19,248 shares of the company’s stock worth $3,467,000 after acquiring an additional 19,188 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Sphere Entertainment during the second quarter valued at approximately $1,644,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sphere Entertainment during the first quarter valued at approximately $3,621,000. Renaissance Technologies LLC boosted its holdings in shares of Sphere Entertainment by 149.9% in the first quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock valued at $65,736,000 after purchasing an additional 335,900 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Sphere Entertainment by 84.9% in the first quarter. Quantinno Capital Management LP now owns 36,822 shares of the company’s stock valued at $4,323,000 after purchasing an additional 16,907 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.