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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $49.24, marking a +0.74% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.2%.
Prior to today's trading, shares of the company had lost 3.27% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.92% and the S&P 500's gain of 3.28% in that time.
DKNG will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2021. 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.
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.
It is also important to note the recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 167, which puts 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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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $49.24, marking a +0.74% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.2%.
Prior to today's trading, shares of the company had lost 3.27% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.92% and the S&P 500's gain of 3.28% in that time.
DKNG will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2021. 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.
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.
It is also important to note the recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 167, which puts 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.