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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
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DraftKings (DKNG - Free Report) closed at $49.09 in the latest trading session, marking a +1.72% move from the prior day. This change outpaced the S&P 500's 1.13% gain on the day.
Prior to today's trading, shares of the company had lost 10.05% over the past month. This has lagged the Consumer Discretionary sector's loss of 2.21% and the S&P 500's gain of 2.39% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release. In that report, analysts expect DKNG to post earnings of -$0.61 per share. This would mark a year-over-year decline of 177.27%. Our most recent consensus estimate is calling for quarterly revenue of $240.84 million, up 239.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.94 per share and revenue of $1.13 billion, which would represent changes of -6.52% and +83.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DKNG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.64% lower within the past month. DKNG currently has a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed at $49.09 in the latest trading session, marking a +1.72% move from the prior day. This change outpaced the S&P 500's 1.13% gain on the day.
Prior to today's trading, shares of the company had lost 10.05% over the past month. This has lagged the Consumer Discretionary sector's loss of 2.21% and the S&P 500's gain of 2.39% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release. In that report, analysts expect DKNG to post earnings of -$0.61 per share. This would mark a year-over-year decline of 177.27%. Our most recent consensus estimate is calling for quarterly revenue of $240.84 million, up 239.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.94 per share and revenue of $1.13 billion, which would represent changes of -6.52% and +83.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DKNG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.64% lower within the past month. DKNG currently has a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.