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DraftKings (DKNG) Stock Moves 0.11%: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $44.76, marking a +0.11% move from the previous day. The stock's change was equal to S&P 500. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.23%.
Coming into today, shares of the company had gained 4.9% in the past month. In that same time, the Consumer Discretionary sector lost 1.15%, while the S&P 500 gained 1.5%.
Market participants will be closely following the financial results of DraftKings in its upcoming release. The company is forecasted to report an EPS of -$0.28, showcasing a 67.82% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.12 billion, showing a 45.5% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $4.82 billion. These totals would mark changes of +86.13% and +31.46%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Stock Moves 0.11%: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $44.76, marking a +0.11% move from the previous day. The stock's change was equal to S&P 500. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.23%.
Coming into today, shares of the company had gained 4.9% in the past month. In that same time, the Consumer Discretionary sector lost 1.15%, while the S&P 500 gained 1.5%.
Market participants will be closely following the financial results of DraftKings in its upcoming release. The company is forecasted to report an EPS of -$0.28, showcasing a 67.82% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.12 billion, showing a 45.5% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $4.82 billion. These totals would mark changes of +86.13% and +31.46%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.