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DraftKings (DKNG) Rises Higher Than Market: Key Facts
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In the latest close session, DraftKings (DKNG - Free Report) was up +1.38% at $35.37. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Elsewhere, the Dow saw an upswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.28%.
Prior to today's trading, shares of the company had lost 26.39% lagged the Consumer Discretionary sector's loss of 1.11% and the S&P 500's gain of 4.83%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. The company is predicted to post an EPS of -$0.06, indicating a 90% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.34 billion, indicating a 22.7% upward movement from the same quarter last year.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of $1.26 per share and revenue of $6.33 billion. These results would represent year-over-year changes of +220% and +32.74%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.43% lower. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, DraftKings is holding a Forward P/E ratio of 27.69. This expresses a premium compared to the average Forward P/E of 25.58 of its industry.
We can additionally observe that DKNG currently boasts a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. DKNG's industry had an average PEG ratio of 1.98 as of yesterday's close.
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Rises Higher Than Market: Key Facts
In the latest close session, DraftKings (DKNG - Free Report) was up +1.38% at $35.37. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Elsewhere, the Dow saw an upswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.28%.
Prior to today's trading, shares of the company had lost 26.39% lagged the Consumer Discretionary sector's loss of 1.11% and the S&P 500's gain of 4.83%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. The company is predicted to post an EPS of -$0.06, indicating a 90% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.34 billion, indicating a 22.7% upward movement from the same quarter last year.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of $1.26 per share and revenue of $6.33 billion. These results would represent year-over-year changes of +220% and +32.74%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.43% lower. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, DraftKings is holding a Forward P/E ratio of 27.69. This expresses a premium compared to the average Forward P/E of 25.58 of its industry.
We can additionally observe that DKNG currently boasts a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. DKNG's industry had an average PEG ratio of 1.98 as of yesterday's close.
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.