Sphere Entertainment (NYSE:SPHR) Given New $158.00 Price Target at Susquehanna

Sphere Entertainment (NYSE:SPHR) had its price target reduced by Susquehanna from $182.00 to $158.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 40.31% from the company’s current price.

A number of other research firms have also recently issued reports on SPHR. Weiss Ratings cut Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Seaport Research Partners set a $160.00 target price on Sphere Entertainment in a report on Wednesday, October 7th. Piper Sandler initiated coverage on Sphere Entertainment in a report on Thursday, August 20th. They set an “overweight” rating and a $185.00 target price on the stock. Guggenheim cut their price target on Sphere Entertainment from $208.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Finally, Craig Hallum cut shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price objective for the company. in a research report on Monday, October 5th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $164.93.

Sphere Entertainment Trading Up 9.4%

Shares of NYSE:SPHR opened at $112.61 on Wednesday. Sphere Entertainment has a 52-week low of $62.08 and a 52-week high of $181.63. The company has a market capitalization of $4.04 billion, a P/E ratio of -42.02 and a beta of 1.61. The company has a 50-day simple moving average of $137.42 and a 200 day simple moving average of $140.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22.

Sphere Entertainment (NYSE:SPHR) last posted 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. The business had revenue of $313.64 million during the quarter, compared to analysts’ expectations of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. Sphere Entertainment’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $3.39 earnings per share. Sell-side analysts forecast that Sphere Entertainment will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds have recently bought and sold shares of SPHR. TD Waterhouse Canada Inc. boosted its holdings in shares of Sphere Entertainment by 31,980.0% during the second quarter. TD Waterhouse Canada Inc. now owns 19,248 shares of the company’s stock worth $3,467,000 after acquiring an additional 19,188 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Sphere Entertainment in the second quarter valued at approximately $1,644,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sphere Entertainment during the first quarter worth approximately $3,621,000. Renaissance Technologies LLC increased its stake in shares of Sphere Entertainment by 149.9% during the first quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock worth $65,736,000 after purchasing an additional 335,900 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Sphere Entertainment by 84.9% during the first quarter. Quantinno Capital Management LP now owns 36,822 shares of the company’s stock worth $4,323,000 after purchasing an additional 16,907 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.