Sphere Entertainment Co. (NYSE:SPHR) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Sphere Entertainment has a consensus analyst rating of “Moderate Buy”, with 11 of 13 brokerages rating it a buy and an average 12-month price target of about $161.92.
• Several firms recently raised their targets on the stock, including Citizens JMP to $200 and Susquehanna to $182, while Morgan Stanley and BTIG also maintained bullish views.
• The company recently beat earnings expectations, reporting -$0.04 EPS versus an estimated -$0.31 and revenue of $386.41 million, up 37.7% year over year.

Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $161.9231.

A number of brokerages recently issued reports on SPHR. Citizens Jmp increased their price objective on Sphere Entertainment from $175.00 to $200.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 17th. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price target on shares of Sphere Entertainment in a research report on Wednesday, May 6th. New Street Research set a $188.00 price target on Sphere Entertainment in a research note on Tuesday. Susquehanna increased their price target on Sphere Entertainment from $159.00 to $182.00 and gave the stock a "positive" rating in a research note on Thursday, June 18th. Finally, BTIG Research reissued a "buy" rating and set a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th.

Hedge Funds Weigh In On Sphere Entertainment

Several large investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in shares of Sphere Entertainment in the 4th quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 acquiring an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Sphere Entertainment during the fourth quarter valued at approximately $48,000. Flagship Harbor Advisors LLC bought a new stake in Sphere Entertainment during the fourth quarter worth approximately $52,000. Finally, Parallel Advisors LLC raised its holdings in Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company's stock worth $55,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Sphere Entertainment Trading Down 3.4%

Sphere Entertainment stock opened at $138.54 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $146.13 and a two-hundred day moving average price of $123.71. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 77.83 and a beta of 1.61. Sphere Entertainment has a 52-week low of $37.89 and a 52-week high of $174.60.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.27. The company had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. Sphere Entertainment's revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business earned ($2.27) earnings per share. Sell-side analysts expect that Sphere Entertainment will post -2.44 earnings per share for the current year.

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.

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