Sphere Entertainment Co. (NYSE:SPHR – Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $171.47 and last traded at $169.1930, with a volume of 1019 shares traded. The stock had previously closed at $169.85.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SPHR shares. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a report on Wednesday, June 17th. BTIG Research restated a “buy” rating and set a $190.00 target price on shares of Sphere Entertainment in a report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citizens Jmp boosted their price target on shares of Sphere Entertainment from $175.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 17th. Finally, Benchmark increased their price target on shares of Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.15.
View Our Latest Stock Analysis on Sphere Entertainment
Sphere Entertainment Stock Down 0.4%
Sphere Entertainment (NYSE:SPHR – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business had revenue of $386.41 million during the quarter, compared to the consensus estimate of $313.41 million. During the same period in the previous year, the company posted ($2.27) earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, equities analysts anticipate that Sphere Entertainment Co. will post -2.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sphere Entertainment
A number of hedge funds and other institutional investors have recently modified their holdings of SPHR. Legato Capital Management LLC acquired a new position in shares of Sphere Entertainment during the third quarter worth $661,000. Kelleher Financial Advisors acquired a new stake in Sphere Entertainment in the fourth quarter valued at $389,000. Stratos Wealth Partners LTD. raised its stake in Sphere Entertainment by 141.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 27,947 shares of the company’s stock valued at $2,657,000 after buying an additional 16,351 shares in the last quarter. Pinnbrook Capital Management LP purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $3,045,000. Finally, Citigroup Inc. lifted its holdings in Sphere Entertainment by 94.0% during the 3rd quarter. Citigroup Inc. now owns 50,592 shares of the company’s stock worth $3,143,000 after buying an additional 24,520 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
About Sphere Entertainment
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.
Read More
- Five stocks we like better than Sphere Entertainment
- Qualcomm’s Investor Day Just Changed the Growth Story Forever
- JPMorgan Stands by Sky-High Broadcom Target as Shares Slide
- 5 Places Investors Can Hide If the AI Trade Keeps Cracking
- Is Apple’s Latest Plunge the Canary in the Coal Mine for Tech Stocks?
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.
