Sphere Entertainment (NYSE:SPHR) Coverage Initiated by Analysts at Citizens Jmp

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

A number of other analysts also recently issued reports on the company. Wolfe Research reiterated an “outperform” rating and set a $105.00 price target on shares of Sphere Entertainment in a research report on Monday, December 15th. Benchmark raised shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Seaport Research Partners upgraded shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. New Street Research set a $110.00 price target on shares of Sphere Entertainment in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 price target on shares of Sphere Entertainment in a report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.69.

Sphere Entertainment Trading Down 0.4%

Shares of SPHR stock opened at $106.37 on Monday. The company has a market capitalization of $3.78 billion, a PE ratio of -236.38 and a beta of 1.61. Sphere Entertainment has a 52-week low of $23.89 and a 52-week high of $121.93. The business’s fifty day moving average is $106.71 and its 200 day moving average is $87.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, February 12th. The company reported $1.23 EPS 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 analysts’ expectations of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The firm’s revenue was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned ($3.49) earnings per share. On average, equities research analysts anticipate that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ariel Investments LLC raised its stake in shares of Sphere Entertainment by 12.7% during 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 in the last quarter. Steadfast Capital Management LP boosted its stake in shares of Sphere Entertainment by 0.9% in the 3rd quarter. Steadfast Capital Management LP now owns 1,256,497 shares of the company’s stock valued at $78,054,000 after purchasing an additional 10,720 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Sphere Entertainment by 23.2% during the 2nd quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock valued at $31,775,000 after purchasing an additional 142,997 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sphere Entertainment by 132.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in Sphere Entertainment by 1.7% in the 2nd quarter. Gabelli Funds LLC now owns 563,139 shares of the company’s stock worth $23,539,000 after purchasing an additional 9,500 shares during the period. 92.03% of the stock is currently owned by institutional investors.

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.