Sphere Entertainment (NYSE:SPHR – Get Free Report) had its price target lowered by equities research analysts at BTIG Research from $160.00 to $145.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price target would suggest a potential upside of 20.76% from the company’s current price.
Other analysts have also recently issued research reports about the stock. New Street Research set a $188.00 price objective on shares of Sphere Entertainment in a report on Tuesday, July 14th. Seaport Research Partners set a $160.00 target price on shares of Sphere Entertainment in a report on Wednesday, October 7th. Craig Hallum downgraded shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 target price on the stock. in a research report on Monday, October 5th. Wells Fargo & Company set a $200.00 target price on shares of Sphere Entertainment in a research report on Tuesday, October 6th. Finally, Susquehanna reiterated a “positive” rating and set a $156.00 price target on shares of Sphere Entertainment in a research note on Friday. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.
Read Our Latest Analysis on SPHR
Sphere Entertainment Stock Up 6.9%
Shares of NYSE SPHR traded up $7.75 during midday trading on Friday, hitting $120.08. 1,389,846 shares of the company’s stock were exchanged, compared to its average volume of 785,661. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.22 and a quick ratio of 1.22. Sphere Entertainment has a twelve month low of $72.08 and a twelve month high of $181.63. The company has a market cap of $4.31 billion, a PE ratio of -44.80 and a beta of 1.72. The firm’s fifty day simple moving average is $124.98 and its 200-day simple moving average is $130.30.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing the consensus estimate of ($1.66) by ($3.18). The business had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $269.71 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. Sphere Entertainment’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.80) EPS. Research analysts predict that Sphere Entertainment will post -2.70 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its stake in Sphere Entertainment by 53.2% in the third quarter. Maryland State Retirement & Pension System now owns 6,014 shares of the company’s stock valued at $809,000 after buying an additional 2,089 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of Sphere Entertainment by 1,422.3% in 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 during the period. Keybank National Association OH grew its position 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 worth $487,000 after acquiring an additional 1,083 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Sphere Entertainment during the third quarter worth approximately $577,000. Finally, Penn Capital Management Company LLC grew 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. Institutional investors and hedge funds own 92.03% of the company’s stock.
Key Stories Impacting Sphere Entertainment
Here are the key news stories impacting Sphere Entertainment this week:
- Positive Sentiment: Strong ticket sales at Sphere: “The Wizard of Oz” exceeded $500 million in ticket sales, with more than four million tickets sold since its August debut. The company also introduced expanded 4D effects, supporting the potential for continued audience demand. Sphere Entertainment Q3 results
- Positive Sentiment: Revenue topped expectations: Q3 revenue was $274.26 million, above analyst estimates of about $269.7 million and up 4.5% year over year. Zacks also reported a per-share loss of $0.98, narrower than its consensus estimate of a $1.79 loss. Zacks Q3 earnings report
- Positive Sentiment: Guggenheim remains bullish: The firm cut its price target from $180 to $175 but maintained a Buy rating, implying substantial upside from the then-current price. The target reduction tempers, but does not reverse, the favorable stance. Guggenheim price-target update
- Negative Sentiment: Reported loss was a concern: Other earnings coverage cited a loss of $4.84 per share, far worse than the $1.66 consensus estimate. This contrasts with the narrower loss cited by Zacks, suggesting results varied across reported earnings measures and may have weighed on sentiment. Coverage of Sphere’s wider Q3 loss
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.
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