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

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

Several other equities analysts have also issued reports on SPHR. Guggenheim decreased their price objective on Sphere Entertainment from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. BTIG Research dropped their target price on shares of Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Craig Hallum downgraded shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 target price on the stock. in a report on Monday, October 5th. Seaport Research Partners set a $160.00 price target on shares of Sphere Entertainment in a research note on Wednesday, October 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.93.

Sphere Entertainment Stock Up 9.4%

NYSE:SPHR opened at $112.61 on Wednesday. Sphere Entertainment has a 1 year low of $62.08 and a 1 year high of $181.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of -42.02 and a beta of 1.61. The stock has a 50-day moving average price of $137.42 and a two-hundred day moving average price of $140.84.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.44. The company had revenue of $313.64 million during the quarter, compared to the consensus estimate of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.39 earnings per share. As a group, equities analysts expect that Sphere Entertainment will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Sphere Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of SPHR. Polaris Financial Partners bought a new stake in shares of Sphere Entertainment during the 3rd quarter worth approximately $43,000. Nykredit A S acquired a new stake in shares of Sphere Entertainment in the 2nd quarter valued at approximately $79,000. Parallel Advisors LLC grew its stake in shares of Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after buying an additional 341 shares in the last quarter. Vision Retirement LLC grew its stake in shares of Sphere Entertainment by 38.0% in the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after buying an additional 133 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Sphere Entertainment by 93.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 570 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Sphere Entertainment

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.