DraftKings (DKNG - Free Report) shares rallied 7% in the last trading session to close at $37.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.3% gain over the past four weeks.
DKNG's momentum persists following the introduction of its sportsbook in Vermont. This strategic move expands DraftKings Sportsbook's footprint to Vermont, the 26th U.S. state, complementing its existing operations in Ontario, Canada. With a strong presence in five of the six New England states, DraftKings aims to provide Vermonters with a secure and legal platform for sports betting.
This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +120.8%. Revenues are expected to be $1.25 billion, up 45.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For DraftKings, the consensus EPS estimate for the quarter has been revised 17.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DKNG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
DraftKings is part of the Zacks Gaming industry. Light & Wonder (LNW - Free Report) , another stock in the same industry, closed the last trading session 3.1% higher at $82.24. LNW has returned -5.2% in the past month.
For Light & Wonder, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.74. This represents a change of +516.7% from what the company reported a year ago. Light & Wonder currently has a Zacks Rank of #3 (Hold).
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DraftKings (DKNG - Free Report) shares rallied 7% in the last trading session to close at $37.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.3% gain over the past four weeks.
DKNG's momentum persists following the introduction of its sportsbook in Vermont. This strategic move expands DraftKings Sportsbook's footprint to Vermont, the 26th U.S. state, complementing its existing operations in Ontario, Canada. With a strong presence in five of the six New England states, DraftKings aims to provide Vermonters with a secure and legal platform for sports betting.
This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +120.8%. Revenues are expected to be $1.25 billion, up 45.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For DraftKings, the consensus EPS estimate for the quarter has been revised 17.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DKNG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
DraftKings is part of the Zacks Gaming industry. Light & Wonder (LNW - Free Report) , another stock in the same industry, closed the last trading session 3.1% higher at $82.24. LNW has returned -5.2% in the past month.
For Light & Wonder, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.74. This represents a change of +516.7% from what the company reported a year ago. Light & Wonder currently has a Zacks Rank of #3 (Hold).
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
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