We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DraftKings (DKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Read MoreHide Full Article
DraftKings (DKNG - Free Report) closed at $40.36 in the latest trading session, marking a -1.42% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Shares of the company witnessed a gain of 20.8% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 4.45% and the S&P 500's gain of 2.43%.
Market participants will be closely following the financial results of DraftKings in its upcoming release. In that report, analysts expect DraftKings to post earnings of -$0.43 per share. This would mark year-over-year growth of 29.51%. Our most recent consensus estimate is calling for quarterly revenue of $1.11 billion, up 40.68% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $5.16 billion. These totals would mark changes of +82.08% and +40.77%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 has shifted 0.36% downward. DraftKings currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DraftKings (DKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
DraftKings (DKNG - Free Report) closed at $40.36 in the latest trading session, marking a -1.42% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Shares of the company witnessed a gain of 20.8% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 4.45% and the S&P 500's gain of 2.43%.
Market participants will be closely following the financial results of DraftKings in its upcoming release. In that report, analysts expect DraftKings to post earnings of -$0.43 per share. This would mark year-over-year growth of 29.51%. Our most recent consensus estimate is calling for quarterly revenue of $1.11 billion, up 40.68% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $5.16 billion. These totals would mark changes of +82.08% and +40.77%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 has shifted 0.36% downward. DraftKings currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.