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Endeavor Gr Hldgs

Endeavor Group Holdings Inc is an entertainment, sports, and content company. It offers services through its integrated capabilities of talent representation, content development, content distribution and sales, event management, marketing and licensing, and direct-to-consumer offerings. It operates its business in four segments: Owned Sports Properties; Events, Experiences & Rights; sports; and Representation. The company generates the majority of its revenue from the Events, Experiences & Rights segment which provides services to a diverse portfolio of live events annually, including live sports events, fashion, art fairs and music, culinary and lifestyle festivals, and major attractions. Geographically the company generates the majority revenue from the United States.

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For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Endeavor Group (NYSE: EDR) one of those stocks right now? Let&#39;s take a closer look at the stock&#39;s year-to-date performance to find out.

Is Endeavor Group Stock Outpacing Its Consumer Discretionary Peers This Year?

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A partnership with Netflix and continued strength of live events and sponsorship opportunities could be catalysts for WWE parent TKO Group Holdings.

WWE Could Be A Netflix Game Changer, Capitalizing On &#39;Opportunities To Maximize Fan Growth And Engagement&#39;

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Silver Lake&#39;s acquisition of Endeavor at a 55% premium to the unaffected share price of $17.72 per share at market close on October 25, 2023, sets a milestone in media, with TKO Group Holdings remaining publicly traded.

Silver Lake To Acquire Endeavor In Multi-Billion Deal: Offer Marks Milestone In Media Sector

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Elliott Investment Management Q2 2024 13F Exited Positions Include 507K Constellation Brands Shares, 4.1M Endeavor Group Shares, 1.05M VNQ Calls, 3.74M Peabody Energy Shares, 296K iShares Bitcoin Trust Shares, 5K NVIDIA Shares, And 1.12M Polestar Automotive Shares

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CORRECTION: Endeavour Silver NYSE Ticker Is 'EXK'

Endeavor Gr Hldgs Q2 EPS $(0.70) Misses $0.50 Estimate, Sales $1.75B Miss $1.90B Estimate

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Endeavor Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/edr#NYSE">EDR</a>) one of those stocks right now? Let&#39;s take a closer look at the stock&#39;s year-to-date performance to find out.
Endeavor Group is a member of our Consumer Discretionary group, which includes 281 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Endeavor Group is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EDR&#39;s full-year earnings has moved 9.8% higher. This means that analyst sentiment is stronger and the stock&#39;s earnings outlook is improving.
According to our latest data, EDR has moved about 14% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 0.1% on average. This means that Endeavor Group is outperforming the sector as a whole this year.
Howden Joinery (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hwdjy#OTC">HWDJY</a>) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 15%.
The consensus estimate for Howden Joinery&#39;s current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Endeavor Group is a member of the Media Conglomerates industry, which includes 15 individual companies and currently sits at #58 in the Zacks Industry Rank. Stocks in this group have gained about 2.5% so far this year, so EDR is performing better this group in terms of year-to-date returns.
On the other hand, Howden Joinery belongs to the Household Appliances industry. This 3-stock industry is currently ranked #33. The industry has moved -7% year to date.
Investors with an interest in Consumer Discretionary stocks should continue to track Endeavor Group and Howden Joinery. These stocks will be looking to continue their solid performance.
<a href="https://www.zacks.com/stock/news/2304358/is-endeavor-group-edr-stock-outpacing-its-consumer-discretionary-peers-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2304358">To read this article on Zacks.com click here.</a>

Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) reported quarterly losses of $(0.46) per share which missed the analyst consensus estimate of $0.13 by 453.85 percent. This is a 1633.33 percent decrease over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $1.850 billion which missed the analyst consensus estimate of $1.892 billion by 2.21 percent. This is a 15.84 percent increase over sales of $1.597 billion the same period last year.

Earnings Misses

Endeavor Gr Hldgs Q1 2024 GAAP EPS $(0.46) Misses $0.13 Estimate, Sales $1.850B Miss $1.892B Estimate

Citigroup analyst Jason Bazinet downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Buy to Neutral and lowers the price target from $29 to $27.5.

Downgrades

Citigroup Downgrades Endeavor Gr Hldgs to Neutral, Lowers Price Target to $27.5

Sports entertainment company TKO Group Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKO#NYSE">TKO</a>) — owner of the UFC and WWE brands — is gaining exposure due to heightened <a href="https://www.benzinga.com/news/24/01/36736994/wwe-is-coming-to-netflix-whats-going-on-with-tko-group-holdings-stock">demand for sports rights.</a>
The TKO Analyst: Goldman Sachs analyst Stephen Laszczyk has a Buy rating and price target of $102 on TKO Group Holdings.
The Analyst Takeaways: Key media rights, sponsorships and revenue from live entertainment could provide a boost to TKO Group Holdings, according to Laszczyk.
Related Link:<a href="https://www.benzinga.com/general/entertainment/24/01/36748991/dwayne-johnson-pins-down-the-rock-trademark-after-wwe-netflix-deal-my-crazy-life-is-coming-"> Dwayne Johnson Pins Down &#8216;The Rock&#8217; Trademark After WWE-Netflix Deal: &#8216;My Crazy Life Is Coming Full Circle&#8217;</a>
The analyst met with TKO management in Philadelphia ahead of the two-day WrestleMania XL event, held on April 6 and April 7.
"We came away from the weekend with takeaways that we believe support many of the key elements of our Buy thesis, initially outlined in our March 2024 initiation report," Laszczyk said.
The analyst said WWE had several high-profile events around the WrestleMania event, which included several events and fan experiences.
Laszczyk highlighted that WrestleMania featured the first ever on-the-mat advertiser for WWE with a Prime Hydration partnership. The analyst also cited how the first night reported over 72,000 attendees for night one on Saturday.
Another key item for WWE going forward could be its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36762528/6-netflix-analysts-size-up-earnings-subscribers-wwe-deal-wwe-raw-changes-the-game">partnership with streaming giant </a>Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) for its flagship show, WWE Raw.
"Having one consistent scaled distributor for RAW globally opens up opportunities to efficiently maximize fan growth &amp; engagement,&#8221; Laszczyk said.
The partnership with Netflix could be a game changer thanks to new advertising and sponsorship opportunities, he added, citing cross-selling traditional telecast and inventory with in-arena and ring advertising. 
&#8220;It will offer potential ways to collaborate to monetize the super fan through merchandising and selling premium experiences,&#8221; Laszcczyk said.
TKO's management team also sees the partnership with Netflix adding credibility to the WWE, similar to Disney helping bring credibility to the UFC through a media deal with ESPN.
The WWE is also heading into a media rights negotiation window for premium live events (i.e. WrestleMania, Royal Rumble and SummerSlam) that may also interest potential partners.
Similarly, the UFC is considered a strong contender for a global media rights deal given its global fan base.
The company was spun off from Endeavor Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) in September.
TKO Price Action: TKO Group Holdings shares are up 2% to $93.98 on Monday versus a 52-week trading range of $72.34 to $102.25.
Read Next: <a href="https://www.benzinga.com/news/24/03/37857335/conor-mcgregor-returns-to-ufc-lawsuits-settled-why-tko-stock-is-punching-higher">Conor McGregor Returns To UFC &amp; Lawsuits Settled: Why TKO Stock Is Punching Higher</a>
WWE illustration created using Shutterstock images

WWE Could Be A Netflix Game Changer, Capitalizing On 'Opportunities To Maximize Fan Growth And Engagement'

JP Morgan analyst David Karnovsky downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Overweight to Neutral and lowers the price target from $30 to $27.5.

JP Morgan Downgrades Endeavor Gr Hldgs to Neutral, Lowers Price Target to $27.5

Jefferies analyst Randal Konik downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Buy to Hold and lowers the price target from $29 to $27.5.

Jefferies Downgrades Endeavor Gr Hldgs to Hold, Lowers Price Target to $27.5

Evercore ISI Group analyst Vijay Jayant downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Outperform to In-Line and lowers the price target from $28 to $27.5.

Evercore ISI Group Downgrades Endeavor Gr Hldgs to In-Line, Lowers Price Target to $27.5

UBS analyst John Hodulik downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Buy to Neutral and lowers the price target from $31 to $27.5.

UBS Downgrades Endeavor Gr Hldgs to Neutral, Lowers Price Target to $27.5

On Tuesday,&nbsp;Endeavor Group Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) entered into an agreement to be acquired by private equity company&nbsp;Silver Lake&nbsp;alongside&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38052532/silver-lake-to-take-endeavor-private" rel="noreferrer noopener">Endeavor management and other anchor investors</a>.
With branches across North America, Europe and Asia, Silver Lake&#8217;s portfolio companies collectively generate nearly $258 billion of revenue annually
Endeavor shareholders are set to receive $27.50 per share in cash, marking a 55% premium to the unaffected share price of $17.72 per share on October 25, 2023, and a 39% premium to Endeavor&#8217;s unaffected 30-day VWAP.
October 25, 2023, is the last full trading day before Endeavor announces its review of strategic alternatives.
Endeavor&#8217;s acquisition entails an equity value of $13 billion, offering shareholders a &#8216;significant premium,&#8217; per a press release.
As part of the agreement,&nbsp;TKO Group Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKO#NYSE">TKO</a>), of which Endeavor is the majority owner, will remain a publicly traded company that will continue to benefit from its connectivity to Endeavor&#8217;s expertise.
&#8220;Together, we have built and grown Endeavor from $350 million in annual revenue when we first invested in 2012 to nearly $6 billion in consolidated revenue today,&#8221; Egon Durban, Co-CEO and Managing Partner of Silver Lake and Chairman of the Board of Endeavor, said.&nbsp;
Silver Lake anticipates that consolidating TKO&#8217;s value into Endeavor will result in a combined enterprise value of $25 billion, marking the largest private equity sponsor public-to-private investment in over a decade and the largest ever in the media and entertainment sector.
On the unaffected date, the equity value stood at $8.2 billion. Silver Lake&#8217;s premium amounts to an additional $4.6 billion in equity value for all Endeavor stockholders.
The premium offered to Endeavor stockholders surpasses the median premium, typically in the low-to-mid-30% range, observed in private equity sponsor take-privates exceeding $10 billion in enterprise value across the technology, media, entertainment, and telecommunications sector over the past five years.
Ariel Emanuel, CEO of Endeavor, said: &#8220;We believe this transaction will maximize value for all of Endeavor&#8217;s public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company.&#8221;
The transaction is slated to conclude by the end of the first quarter of 2025. After finalization, Endeavor&#8217;s common stock will cease to be listed on any public market.
Price Action:&nbsp;EDR shares are trading higher by 0.26% to $25.93 premarket on the last check Wednesday.

Guggenheim analyst Curry Baker downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Buy to Neutral and lowers the price target from $36 to $27.5.

Guggenheim Downgrades Endeavor Gr Hldgs to Neutral, Lowers Price Target to $27.5

Seaport Global analyst David Joyce downgrades Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) from Buy to Neutral.

Seaport Global Downgrades Endeavor Gr Hldgs to Neutral

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Endeavor Group Holdings shares are trading higher after the company entered into a definitive agreement to be acquired by Silver Lake.

Endeavor Group Shares Resume Trade

Endeavor Stockholders to Receive $27.50 Per Share in Cash, a 55% Premium Value to Unaffected Share Price
Special Committee of Endeavor's Independent Directors Unanimously Recommended Approval of Transaction
Transaction at $13 Billion Equity Value and $25 Billion Consolidated Enterprise Value is Largest Private Equity Sponsor Take-Private in 10 Years and Largest Ever in Media &amp; Entertainment Sector
Endeavor Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) ("Endeavor" or the "Company"), a global sports and entertainment company, today announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with the Endeavor management team and additional anchor investors.
Under the terms of the agreement, Silver Lake will acquire 100% of the outstanding shares it does not already own, other than rolled interests. Endeavor stockholders will receive $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share at market close on October 25, 2023, the last full trading day prior to Endeavor's announcement of its review of strategic alternatives, and a 39% premium to Endeavor's unaffected 30‐day VWAP.
With the significant premium being delivered to stockholders, Endeavor is being acquired at an equity value of $13 billion. Silver Lake believes that when consolidating all of TKO's value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector. On the unaffected date, the equity value was $8.2 billion, and the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders.
Ariel Emanuel, CEO of Endeavor, said: "Since 2012, Endeavor's strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today. We believe this transaction will maximize value for all of Endeavor's public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company."
Egon Durban, Co-CEO and Managing Partner of Silver Lake, and Chairman of the Board of Endeavor, said: "Our unwavering belief in Ari and Patrick, together with Mark and other talented leaders at Endeavor, has never been stronger. This is a very special partnership. Together, we have built and grown Endeavor from $350 million in annual revenue when we first invested in 2012 to nearly $6 billion in consolidated revenue today. Now, Endeavor can take advantage of its unique core platform to meet the dynamic forces driving growth in content, sports, and live events with bold vision. Consistent with our mission and underscored by this commitment being among the largest in Silver Lake's history, we are all in on working with the Endeavor team and our trusted anchor investors to create value by accelerating growth at scale."
Patrick Whitesell, Executive Chairman of Endeavor, said: "With Silver Lake's continued partnership and support, Endeavor is ideally positioned to capitalize on compelling trends in media and entertainment, where global content spending has reached more than $200 billion per year. In a business where the only constant is change, I know Endeavor will continue to lead the industry forward."
Mark Shapiro, President and Chief Operating Officer of Endeavor, said: "Endeavor's assets and capabilities across entertainment, sports, fashion, and music are unparalleled. This transaction further enhances our ability to deliver category-defining deals and iconic events and experiences for clients, partners, and fans around the world. Egon, Stephen, and the broader Silver Lake team have been and will continue to be phenomenal partners in Endeavor's journey, and we look forward to the road ahead."
Stephen Evans, Managing Director of Silver Lake and a Director of Endeavor, said: "The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years. We are excited about what we can achieve together in this next phase, spearheaded by Endeavor's visionary expertise across talent representation and content and ownership of truly special, marquee assets in sports."
The transaction builds on multiple investments Silver Lake has made in Endeavor starting with Silver Lake's initial investment in William Morris Endeavor in 2012 and continuing through Endeavor's subsequent acquisition of IMG in 2014 and initial public offering in 2021. Silver Lake also supported Endeavor's acquisition of UFC in 2016 and the merger of UFC and WWE, creating premium sports and entertainment company TKO Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKO#NYSE">TKO</a>) ("TKO") in 2023.
TKO is not party to this transaction and will remain a publicly traded company that will continue to benefit from its connectivity to Endeavor's expertise, relationships, and significant capabilities.
TRANSACTION DETAILS
The premium value delivered by the transaction to Endeavor stockholders is substantially higher than the median premium in the low-to-mid-30% range paid in private equity sponsor take-privates larger than $10 billion in enterprise value over the last five years in the technology, media, entertainment, and telecommunications sector.
The consummation of the transaction is not subject to any financing condition. The transaction will be financed through a combination of new and reinvested equity from Silver Lake and additional capital anchored by Mubadala Investment Company, DFO Management, LLC, Lexington Partners, and funds managed by Goldman Sachs Asset Management; equity rolled over by members of the Endeavor management team including Emanuel, Whitesell, and Shapiro; and new debt financing fully committed by Goldman Sachs, USA, JP Morgan, N.A., Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Barclays PLC, Deutsche Bank AG New York, and Royal Bank of Canada.
Consistent with Endeavor's announcement on October 25, 2023 of the initiation of a formal review to evaluate strategic alternatives, and Silver Lake's public response that it was working toward a proposal to take Endeavor private, Endeavor proceeded to form a Special Committee of independent directors to review and consider any proposal that might materialize in connection with the strategic review.
The Special Committee reviewed, negotiated, unanimously approved, and recommended approval by Endeavor's Executive Committee of the proposed transaction. Following formal approval by Endeavor's Executive Committee, the definitive agreement was signed, and the transaction was approved by the written consent of stockholders representing a majority of the outstanding voting interests of the Company.
The transaction is subject to the satisfaction of customary closing conditions and required regulatory approvals. No other stockholder approval is required. The transaction is expected to close by the end of the first quarter of 2025. Upon completion of the transaction, Endeavor's common stock will no longer be listed on any public market.
Further information regarding terms and conditions contained in the definitive transaction agreements will be made available in Endeavor's Current Report on Form 8-K, which will be filed in connection with this transaction.

Silver Lake To Take Endeavor Private; Endeavor Stockholders To Receive $27.50 Per Share In Cash; Transaction At $13B Equity Value And $25B Consolidated Enterprise Value

<a href="https://twitter.com/davidfaber/status/1775197932532216078">David Faber on X: "The news on $EDR is a deal by Silverlake to acquire the company not an offer. But waiting on the release." / X (twitter.com)</a>
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CNBC's David Faber Posts On X "The news on $EDR is a deal by Silverlake to acquire the company not an offer. But waiting on the release."

Endeavor Group Shares Halted, News Pending

TD Cowen analyst Lance Vitanza maintains Endeavor Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>) with a Outperform and raises the price target from $28 to $30.

TD Cowen Maintains Outperform on Endeavor Gr Hldgs, Raises Price Target to $30

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