Shares of Sphere Entertainment Co. (NYSE:SPHR – Get Free Report) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $166.00.
SPHR has been the topic of a number of research analyst reports. Citizens Jmp boosted their target price on Sphere Entertainment from $175.00 to $200.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 17th. Benchmark increased their target price on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Guggenheim increased their target price on Sphere Entertainment from $193.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday. Seaport Research Partners restated a “buy” rating and set a $191.00 target price on shares of Sphere Entertainment in a report on Thursday, August 13th. Finally, Piper Sandler initiated coverage on shares of Sphere Entertainment in a research note on Thursday, August 20th. They set an “overweight” rating and a $185.00 price target on the stock.
Get Our Latest Research Report on SPHR
Institutional Investors Weigh In On Sphere Entertainment
Sphere Entertainment Trading Down 0.6%
Shares of SPHR stock opened at $142.20 on Friday. Sphere Entertainment has a 1-year low of $47.05 and a 1-year high of $181.63. The firm has a market cap of $5.11 billion, a PE ratio of -53.06 and a beta of 1.62. The company has a 50-day moving average of $152.11 and a two-hundred day moving average of $137.39. 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 (NYSE:SPHR – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. During the same period in the previous year, the firm earned $3.39 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, analysts predict that Sphere Entertainment will post -2.34 EPS for the current year.
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.
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