Sphere Entertainment Co. (NYSE:SPHR) Stock Has Average Target Price of $166.00

Sphere Entertainment Co. (NYSE:SPHR) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently 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 1-year target price among brokerages that have issued ratings on the stock in the last year is $166.00.

SPHR has been the subject of a number of recent research reports. New Street Research set a $188.00 price objective on Sphere Entertainment in a research note on Tuesday, July 14th. Seaport Research Partners restated a “buy” rating and set a $191.00 target price on shares of Sphere Entertainment in a research note on Thursday, August 13th. Susquehanna lifted their price target on shares of Sphere Entertainment from $159.00 to $182.00 and gave the company a “positive” rating in a report on Thursday, June 18th. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Sphere Entertainment from $150.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th.

Hedge Funds Weigh In On Sphere Entertainment

Several large investors have recently made changes to their positions in the business. Polaris Financial Partners bought a new position in shares of Sphere Entertainment during the third quarter worth $43,000. Sequoia Financial Advisors LLC purchased a new position in Sphere Entertainment during the second quarter valued at $207,000. Integrated Wealth Concepts LLC bought a new stake in Sphere Entertainment in the 2nd quarter valued at $255,000. Arizona State Retirement System increased its holdings in Sphere Entertainment by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 7,111 shares of the company’s stock valued at $1,230,000 after acquiring an additional 75 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Sphere Entertainment in the 2nd quarter worth $79,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

NYSE SPHR opened at $128.27 on Wednesday. The business’s fifty day moving average is $148.31 and its 200 day moving average is $141.07. Sphere Entertainment has a fifty-two week low of $57.01 and a fifty-two week high of $181.63. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $4.61 billion, a PE ratio of -47.86 and a beta of 1.61.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%.The business had revenue of $313.64 million during the quarter, compared to analysts’ expectations of $307.44 million. During the same quarter in the prior year, the business posted $3.39 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts predict that Sphere Entertainment will post -2.34 earnings per share for the current year.

About Sphere Entertainment

Sphere Entertainment Co is an entertainment company focused on developing and operating large-scale live experiences, media properties and venues. Its flagship asset is Sphere, a next-generation entertainment venue in Las Vegas featuring a wraparound interior display, immersive audio and experiential programming. Sphere presents concerts, films, sporting events and other productions designed to combine live performance with advanced visual and audio technology.

The company also operates MSG Networks, a regional sports and entertainment media business serving audiences primarily in the New York metropolitan area.