Sphere Entertainment (NYSE:SPHR) Now Covered by Citizens Jmp

Research analysts at Citizens Jmp initiated coverage on shares of Sphere Entertainment (NYSE:SPHR) in a research report issued on Monday,Benzinga reports. The brokerage set a “market outperform” rating and a $150.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 40.52% from the company’s previous close.

Other equities research analysts have also issued reports about the company. National Bank Financial set a $136.00 price objective on Sphere Entertainment in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, January 21st. Benchmark upgraded shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, February 17th. Craig Hallum reaffirmed a “buy” rating and set a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.69.

Sphere Entertainment Trading Down 0.0%

Sphere Entertainment stock opened at $106.75 on Monday. Sphere Entertainment has a 52 week low of $23.89 and a 52 week high of $121.93. 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 firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -237.22 and a beta of 1.61. The company has a 50 day moving average price of $106.50 and a 200 day moving average price of $86.96.

Sphere Entertainment (NYSE:SPHR) last issued 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. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business had revenue of $394.28 million during the quarter, compared to analysts’ expectations of $377.60 million. During the same quarter last year, the firm posted ($3.49) earnings per share. Sphere Entertainment’s revenue was up 27.9% compared to the same quarter last year. Research analysts forecast that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Several institutional investors have recently made changes to their positions in SPHR. Royal Bank of Canada raised its position in Sphere Entertainment by 5.5% during the first quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock valued at $4,928,000 after acquiring an additional 7,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sphere Entertainment by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock worth $532,000 after acquiring an additional 831 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 worth $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Sphere Entertainment by 11.2% during the 2nd quarter. Legal & General Group Plc now owns 30,752 shares of the company’s stock valued at $1,285,000 after purchasing an additional 3,103 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Sphere Entertainment by 9.8% in the second quarter. Rhumbline Advisers now owns 49,538 shares of the company’s stock worth $2,071,000 after purchasing an additional 4,433 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.