JPMorgan Chase & Co. Increases Sphere Entertainment (NYSE:SPHR) Price Target to $37.00

Sphere Entertainment (NYSE:SPHRGet Free Report) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $33.00 to $37.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 5.88% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wolfe Research assumed coverage on Sphere Entertainment in a research report on Wednesday, January 17th. They set a “peer perform” rating on the stock. Guggenheim upgraded Sphere Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $40.00 in a report on Wednesday, December 6th. Seaport Res Ptn raised Sphere Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, Morgan Stanley raised their price objective on Sphere Entertainment from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.60.

Read Our Latest Research Report on Sphere Entertainment

Sphere Entertainment Stock Up 1.2 %

Sphere Entertainment stock opened at $39.31 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $33.53 and a 200 day moving average of $35.53. The stock has a market cap of $1.36 billion, a PE ratio of 3.72 and a beta of 1.33. Sphere Entertainment has a one year low of $20.68 and a one year high of $43.93.

Sphere Entertainment (NYSE:SPHRGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The company reported ($4.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.95%. The firm had revenue of $314.16 million for the quarter, compared to the consensus estimate of $303.28 million. During the same period in the previous year, the company posted $2.25 earnings per share. Sphere Entertainment’s quarterly revenue was up 96.9% on a year-over-year basis. As a group, sell-side analysts predict that Sphere Entertainment will post -0.79 EPS for the current year.

Institutional Trading of Sphere Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $608,000. Dimensional Fund Advisors LP grew its holdings in shares of Sphere Entertainment by 24.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,534,028 shares of the company’s stock worth $52,095,000 after purchasing an additional 299,931 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $1,633,000. CenterStar Asset Management LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $755,000. Finally, National Bank of Canada FI purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $46,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Sphere Entertainment

(Get Free Report)

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.

Further Reading

Analyst Recommendations for Sphere Entertainment (NYSE:SPHR)

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