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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $13.39, marking a -1.03% move from the previous day. This change lagged the S&P 500's 0.13% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Prior to today's trading, shares of the company had lost 4.38% over the past month. This has lagged the Consumer Discretionary sector's gain of 7.82% and the S&P 500's gain of 5.55% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release, which is expected to be August 5, 2022. On that day, DraftKings is projected to report earnings of -$0.88 per share, which would represent a year-over-year decline of 15.79%. Our most recent consensus estimate is calling for quarterly revenue of $438.24 million, up 47.25% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.59 per share and revenue of $2.11 billion. These results would represent year-over-year changes of +5.03% and +62.59%, respectively.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 has moved 0.19% higher. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $13.39, marking a -1.03% move from the previous day. This change lagged the S&P 500's 0.13% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Prior to today's trading, shares of the company had lost 4.38% over the past month. This has lagged the Consumer Discretionary sector's gain of 7.82% and the S&P 500's gain of 5.55% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release, which is expected to be August 5, 2022. On that day, DraftKings is projected to report earnings of -$0.88 per share, which would represent a year-over-year decline of 15.79%. Our most recent consensus estimate is calling for quarterly revenue of $438.24 million, up 47.25% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.59 per share and revenue of $2.11 billion. These results would represent year-over-year changes of +5.03% and +62.59%, respectively.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 has moved 0.19% higher. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.