Sphere Entertainment (NYSE:SPHR – Free Report) had its price target lowered by JPMorgan Chase & Co. from $164.00 to $160.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.
SPHR has been the topic of a number of other research reports. Guggenheim reduced their price objective on Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday. Piper Sandler reiterated an “overweight” rating and set a $145.00 target price (down from $185.00) on shares of Sphere Entertainment in a report on Friday, October 23rd. Susquehanna reissued a “positive” rating and set a $156.00 price target on shares of Sphere Entertainment in a research report on Friday. Wells Fargo & Company set a $200.00 price target on Sphere Entertainment in a report on Tuesday, October 6th. Finally, Citigroup restated a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Eleven research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.60.
View Our Latest Research Report on Sphere Entertainment
Sphere Entertainment Stock Performance
NYSE:SPHR opened at $120.08 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -25.44 and a beta of 1.72. The firm’s fifty day simple moving average is $124.43 and its 200 day simple moving average is $130.43. Sphere Entertainment has a twelve month low of $72.08 and a twelve month high of $181.63.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The business had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $269.71 million. During the same period last year, the company posted ($2.80) earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Sphere Entertainment will post -2.70 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sphere Entertainment
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its stake in Sphere Entertainment by 53.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,014 shares of the company’s stock valued at $809,000 after purchasing an additional 2,089 shares in the last quarter. Jefferies Financial Group Inc. raised its position in shares of Sphere Entertainment by 1,422.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 26,640 shares of the company’s stock valued at $3,581,000 after purchasing an additional 24,890 shares in the last quarter. Keybank National Association OH raised its position in shares of Sphere Entertainment by 42.7% in the 3rd quarter. Keybank National Association OH now owns 3,620 shares of the company’s stock valued at $487,000 after purchasing an additional 1,083 shares in the last quarter. Csenge Advisory Group purchased a new position in shares of Sphere Entertainment during the 3rd quarter valued at approximately $577,000. Finally, Penn Capital Management Company LLC boosted its stake in shares of Sphere Entertainment by 17.5% during the 3rd quarter. Penn Capital Management Company LLC now owns 4,210 shares of the company’s stock valued at $566,000 after buying an additional 626 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.
About Sphere Entertainment
Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications.
MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.
Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp.
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