JPMorgan Chase & Co. Issues Pessimistic Forecast for Sphere Entertainment (NYSE:SPHR) Stock Price

Sphere Entertainment (NYSE:SPHR) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $164.00 to $160.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 33.25% from the company’s current price.

A number of other brokerages also recently commented on SPHR. Craig Hallum downgraded Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price objective for the company. in a research report on Monday, October 5th. Weiss Ratings downgraded Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Guggenheim reduced their target price on Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and issued a $150.00 price target on shares of Sphere Entertainment in a research note on Friday. Finally, BTIG Research decreased their price target on shares of Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Friday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.60.

Sphere Entertainment Trading Up 0.0%

Shares of SPHR opened at $120.08 on Friday. The stock has a fifty day moving average of $124.43 and a two-hundred day moving average of $130.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $4.31 billion, a PE ratio of -25.44 and a beta of 1.72. Sphere Entertainment has a fifty-two week low of $72.08 and a fifty-two week high of $181.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The business had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $269.71 million. During the same period in the prior year, the company earned ($2.80) EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts forecast that Sphere Entertainment will post -2.70 EPS for the current year.

Hedge Funds Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System lifted its holdings in Sphere Entertainment by 53.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 6,014 shares of the company’s stock worth $809,000 after buying an additional 2,089 shares in the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Sphere Entertainment by 1,422.3% during the third quarter. Jefferies Financial Group Inc. now owns 26,640 shares of the company’s stock valued at $3,581,000 after acquiring an additional 24,890 shares in the last quarter. Keybank National Association OH grew its stake in shares of Sphere Entertainment by 42.7% during the third quarter. Keybank National Association OH now owns 3,620 shares of the company’s stock valued at $487,000 after acquiring an additional 1,083 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Sphere Entertainment during the third quarter valued at about $577,000. Finally, Penn Capital Management Company LLC increased its position in shares of Sphere Entertainment by 17.5% during the third quarter. Penn Capital Management Company LLC now owns 4,210 shares of the company’s stock worth $566,000 after acquiring an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications.

MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.

Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp.