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DraftKings (DKNG) Stock Moves -0.04%: What You Should Know

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DraftKings (DKNG - Free Report) closed at $44.83 in the latest trading session, marking a -0.04% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.33%.

Coming into today, shares of the company had lost 8.11% in the past month. In that same time, the Consumer Discretionary sector lost 2.09%, while the S&P 500 gained 2.89%.

Wall Street will be looking for positivity from DKNG as it approaches its next earnings report date. This is expected to be August 6, 2021. On that day, DKNG is projected to report earnings of -$0.61 per share, which would represent a year-over-year decline of 177.27%. Meanwhile, our latest consensus estimate is calling for revenue of $240.84 million, up 239.55% from the prior-year quarter.

DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$2.82 per share and revenue of $1.13 billion. These results would represent year-over-year changes of -2.17% and +83.6%, respectively.

Investors should also note any recent changes to analyst estimates for DKNG. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DKNG is currently a Zacks Rank #4 (Sell).

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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