Sphere Entertainment (NYSE:SPHR) Research Coverage Started at Citizens Jmp

Citizens Jmp initiated coverage on shares of Sphere Entertainment (NYSE:SPHR) in a research report released on Monday morning, MarketBeat.com reports. The firm issued a market outperform rating and a $150.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America upped their price objective on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. BTIG Research boosted their target price on shares of Sphere Entertainment from $110.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. National Bank Financial set a $136.00 price target on shares of Sphere Entertainment in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target on Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.69.

Sphere Entertainment Trading Up 1.9%

Shares of SPHR stock opened at $119.65 on Monday. Sphere Entertainment has a fifty-two week low of $23.89 and a fifty-two week high of $123.61. The stock’s fifty day moving average price is $107.68 and its two-hundred day moving average price is $87.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $4.25 billion, a PE ratio of -265.89 and a beta of 1.67.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $1.35. The business had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.Sphere Entertainment’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the prior year, the company earned ($3.49) EPS. Equities analysts predict that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

A number of institutional investors have recently made changes to their positions in SPHR. Ariel Investments LLC lifted its stake in shares of Sphere Entertainment by 12.7% in the second quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after acquiring an additional 802,098 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Sphere Entertainment during the 4th quarter valued at approximately $39,909,000. Goldman Sachs Group Inc. raised its holdings in Sphere Entertainment by 132.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Mane Global Capital Management LP bought a new position in Sphere Entertainment during the 3rd quarter worth approximately $22,143,000. Finally, Woodline Partners LP acquired a new position in shares of Sphere Entertainment in the 3rd quarter worth approximately $20,503,000. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

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.