Sphere Entertainment (NYSE:SPHR) Stock Rating Upgraded by Benchmark

Sphere Entertainment (NYSE:SPHR) was upgraded by equities research analysts at Benchmark from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on SPHR. Craig Hallum reiterated a “buy” rating and set a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $126.00 price objective on shares of Sphere Entertainment in a research note on Friday. Finally, BTIG Research lifted 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. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sphere Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $101.23.

Sphere Entertainment Trading Down 0.1%

Shares of Sphere Entertainment stock opened at $115.62 on Tuesday. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $117.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day moving average price of $94.94 and a 200 day moving average price of $72.87. The company has a market capitalization of $4.08 billion, a P/E ratio of -256.93 and a beta of 1.68.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Thursday, February 12th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.35. The firm had revenue of $394.28 million for 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%.Sphere Entertainment’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($3.49) EPS. Sell-side analysts anticipate that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Sphere Entertainment by 5.5% in the 1st quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock valued at $4,928,000 after purchasing an additional 7,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sphere Entertainment by 5.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock valued at $532,000 after purchasing an additional 831 shares in the last quarter. Goldman Sachs Group Inc. grew 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 valued at $20,577,000 after purchasing an additional 357,794 shares in the last quarter. CWM LLC increased its stake in Sphere Entertainment by 915.3% during the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after buying an additional 659 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in Sphere Entertainment in the 2nd quarter worth $209,000. Institutional investors and hedge funds 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.