TKO Group (NYSE:TKO) Announces Earnings Results

TKO Group (NYSE:TKO) announced its quarterly earnings data on Thursday. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10), Briefing.com reports. The business had revenue of $851.20 million during the quarter, compared to the consensus estimate of $771.54 million. TKO Group had a negative net margin of 4.14% and a positive return on equity of 4.15%. The firm’s revenue for the quarter was up 178.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. TKO Group updated its FY 2024 guidance to EPS.

TKO Group Stock Up 0.6 %

Shares of NYSE:TKO traded up $0.75 during midday trading on Friday, reaching $117.67. The company’s stock had a trading volume of 1,288,516 shares, compared to its average volume of 1,144,812. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $108.24 and a 200-day moving average of $97.45. The firm has a market capitalization of $20.04 billion, a P/E ratio of -116.50 and a beta of 1.04. TKO Group has a 12-month low of $72.33 and a 12-month high of $120.08.

Insider Buying and Selling

In related news, Director Nick Khan sold 22,693 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the transaction, the director now directly owns 220,018 shares in the company, valued at approximately $23,218,499.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on TKO shares. TD Cowen raised TKO Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $127.00 in a report on Wednesday, May 15th. Morgan Stanley raised their price target on TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday. Redburn Atlantic initiated coverage on TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 price objective on the stock. Jefferies Financial Group increased their price objective on TKO Group from $120.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Roth Mkm increased their price objective on TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.71.

TKO Group Company Profile

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.