Sphere Entertainment (NYSE:SPHR) Stock Price Target Lowered at JPMorgan Chase & Co.

Sphere Entertainment (NYSE:SPHR) had its price objective trimmed by JPMorgan Chase & Co. from $164.00 to $160.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SPHR has been the subject of a number of other research reports. Weiss Ratings downgraded Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (down from $185.00) on shares of Sphere Entertainment in a report on Friday, October 23rd. Craig Hallum cut Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price objective on the stock. in a research report on Monday, October 5th. BTIG Research cut their target price on Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sphere Entertainment in a research report on Tuesday, October 6th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sphere Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $156.60.

Sphere Entertainment Stock Up 0.0%

NYSE SPHR opened at $120.08 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50-day simple moving average of $124.43 and a 200 day simple moving average of $130.43. Sphere Entertainment has a twelve month low of $72.08 and a twelve month high of $181.63. The stock has a market cap of $4.31 billion, a PE ratio of -25.44 and a beta of 1.72.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The firm had revenue of $274.26 million for the quarter, compared to analyst estimates of $269.71 million. During the same period last year, the business earned ($2.80) earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Sphere Entertainment will post -2.70 EPS for the current year.

Hedge Funds Weigh In On Sphere Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of SPHR. Signaturefd LLC increased its holdings in shares of Sphere Entertainment by 204.9% in the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Polaris Financial Partners bought a new position in Sphere Entertainment in the 3rd quarter worth approximately $43,000. Nykredit A S bought a new position in Sphere Entertainment in the 2nd quarter worth approximately $79,000. Parallel Advisors LLC raised its position in Sphere Entertainment by 275.0% in the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after purchasing an additional 341 shares during the last quarter. Finally, Vision Retirement LLC lifted its holdings in Sphere Entertainment by 38.0% during the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock worth $57,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Sphere Entertainment

Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications.

MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.

Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp.