We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
DraftKings (DKNG - Free Report) closed at $11.27 in the latest trading session, marking a +1.99% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Coming into today, shares of the company had lost 27.87% in the past month. In that same time, the Consumer Discretionary sector lost 4.82%, while the S&P 500 lost 4.4%.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. The company is expected to report EPS of -$0.64, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $795.34 million, up 68.03% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.11 per share and revenue of $2.18 billion. These totals would mark changes of +17.72% and +68.25%, respectively, from last year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed at $11.27 in the latest trading session, marking a +1.99% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Coming into today, shares of the company had lost 27.87% in the past month. In that same time, the Consumer Discretionary sector lost 4.82%, while the S&P 500 lost 4.4%.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. The company is expected to report EPS of -$0.64, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $795.34 million, up 68.03% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.11 per share and revenue of $2.18 billion. These totals would mark changes of +17.72% and +68.25%, respectively, from last year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.