Roth Capital Has Weak Forecast for TKO Group FY2024 Earnings

TKO Group Holdings, Inc. (NYSE:TKO - Free Report) - Equities researchers at Roth Capital reduced their FY2024 earnings estimates for TKO Group in a research report issued on Thursday, November 7th. Roth Capital analyst E. Handler now expects that the company will post earnings per share of $3.92 for the year, down from their prior estimate of $4.08. The consensus estimate for TKO Group's current full-year earnings is $1.88 per share. Roth Capital also issued estimates for TKO Group's Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.28 EPS, FY2025 earnings at $1.45 EPS and FY2026 earnings at $2.07 EPS.

TKO Group (NYSE:TKO - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.28). TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The business had revenue of $681.20 million for the quarter, compared to the consensus estimate of $665.12 million. During the same period in the prior year, the business posted $0.52 EPS. TKO Group's revenue for the quarter was up 51.7% on a year-over-year basis.

A number of other research firms have also recently commented on TKO. TD Cowen increased their price target on shares of TKO Group from $140.00 to $143.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. UBS Group raised their target price on shares of TKO Group from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Benchmark cut shares of TKO Group from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Bank of America initiated coverage on shares of TKO Group in a report on Tuesday, August 20th. They issued a "buy" rating and a $140.00 target price on the stock. Finally, Guggenheim raised their target price on shares of TKO Group from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, TKO Group has a consensus rating of "Moderate Buy" and an average price target of $131.00.

TKO Group Stock Down 0.9 %

Shares of NYSE:TKO traded down $1.10 during trading on Monday, reaching $119.08. 563,482 shares of the stock traded hands, compared to its average volume of 1,054,822. The stock has a 50-day moving average of $121.39 and a two-hundred day moving average of $112.93. TKO Group has a 52-week low of $72.33 and a 52-week high of $130.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 1.17. The stock has a market cap of $20.32 billion, a P/E ratio of -283.52 and a beta of 1.06.

Institutional Trading of TKO Group

A number of large investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in TKO Group by 52.4% in the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company's stock valued at $32,000 after buying an additional 89 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of TKO Group by 491.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 278 shares of the company's stock valued at $34,000 after purchasing an additional 231 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of TKO Group in the 2nd quarter valued at about $36,000. Signaturefd LLC raised its holdings in shares of TKO Group by 39.4% in the 3rd quarter. Signaturefd LLC now owns 386 shares of the company's stock valued at $48,000 after purchasing an additional 109 shares in the last quarter. Finally, Quarry LP bought a new position in shares of TKO Group during the 2nd quarter worth approximately $51,000. 89.79% of the stock is currently owned by institutional investors.

Insider Activity

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the sale, the insider now directly owns 42,156 shares in the company, valued at approximately $4,837,822.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 53.80% of the company's stock.

About TKO Group

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.