Sphere Entertainment Co. (NYSE:SPHR – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $160.93.
A number of equities analysts recently issued reports on SPHR shares. Citigroup restated a “market outperform” rating on shares of Sphere Entertainment in a research note on Tuesday, October 6th. The Goldman Sachs Group increased their price objective on Sphere Entertainment from $150.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Seaport Research Partners set a $160.00 price objective on Sphere Entertainment in a research note on Wednesday, October 7th. Wall Street Zen downgraded Sphere Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Finally, BTIG Research decreased their target price on Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, October 6th.
Check Out Our Latest Research Report on Sphere Entertainment
Sphere Entertainment Stock Performance
Shares of Sphere Entertainment stock opened at $112.88 on Friday. The company has a 50 day moving average price of $129.99 and a 200 day moving average price of $130.02. The firm has a market capitalization of $4.05 billion, a P/E ratio of -42.12 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.32. Sphere Entertainment has a 52 week low of $64.00 and a 52 week high of $181.63.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm earned $3.39 EPS. Sphere Entertainment’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect that Sphere Entertainment will post -2.67 EPS for the current year.
Institutional Trading of Sphere Entertainment
Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Sphere Entertainment during the third quarter worth about $70,000. LJI Wealth Management LLC acquired a new position in Sphere Entertainment in the third quarter valued at approximately $524,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Sphere Entertainment by 29.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,300 shares of the company’s stock valued at $1,654,000 after acquiring an additional 2,800 shares during the period. Oppenheimer & Co. Inc. boosted its position in Sphere Entertainment by 64.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the company’s stock worth $726,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Sphere Entertainment by 204.9% in the 3rd quarter. Signaturefd LLC now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
About Sphere Entertainment
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.
Featured Stories
- Five stocks we like better than Sphere Entertainment
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
- GE Vernova’s Reservations Are Turning Into Real Orders—But the Market Still Wants More.
- Where’s the Beef? Trian-Led Buyout Proposal Values Wendy’s at $1.4B, But Is It Enough?
Receive News & Ratings for Sphere Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sphere Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
