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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $13.49, marking a -1.39% move from the previous day. This change lagged the S&P 500's 0.33% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the company had lost 21.15% over the past month. This has lagged the Consumer Discretionary sector's loss of 15.18% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$1.07 per share, which would represent year-over-year growth of 20.74%. Our most recent consensus estimate is calling for quarterly revenue of $435.48 million, up 104.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.07 per share and revenue of $2.15 billion, which would represent changes of +18.78% and +65.56%, respectively, from the prior year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $13.49, marking a -1.39% move from the previous day. This change lagged the S&P 500's 0.33% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the company had lost 21.15% over the past month. This has lagged the Consumer Discretionary sector's loss of 15.18% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$1.07 per share, which would represent year-over-year growth of 20.74%. Our most recent consensus estimate is calling for quarterly revenue of $435.48 million, up 104.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.07 per share and revenue of $2.15 billion, which would represent changes of +18.78% and +65.56%, respectively, from the prior year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.