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DraftKings (DKNG) Suffers a Larger Drop Than the General Market: Key Insights
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DraftKings (DKNG - Free Report) ended the recent trading session at $23.67, demonstrating a -4.98% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 1.51%. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 2.01%.
The stock of company has risen by 10.76% in the past month, leading the Consumer Discretionary sector's loss of 3.7% and the S&P 500's loss of 3.63%.
The upcoming earnings release of DraftKings will be of great interest to investors. The company is predicted to post an EPS of $0.23, indicating a 91.67% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 18.68% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.15 per share and revenue of $6.81 billion, indicating changes of +74.24% and +12.5%, respectively, compared to the previous year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.68% higher. DraftKings is currently sporting a Zacks Rank of #5 (Strong Sell).
In the context of valuation, DraftKings is at present trading with a Forward P/E ratio of 21.61. This denotes a premium relative to the industry average Forward P/E of 16.07.
Meanwhile, DKNG's PEG ratio is currently 0.5. 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 1.46 as of yesterday's close.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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DraftKings (DKNG) Suffers a Larger Drop Than the General Market: Key Insights
DraftKings (DKNG - Free Report) ended the recent trading session at $23.67, demonstrating a -4.98% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 1.51%. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 2.01%.
The stock of company has risen by 10.76% in the past month, leading the Consumer Discretionary sector's loss of 3.7% and the S&P 500's loss of 3.63%.
The upcoming earnings release of DraftKings will be of great interest to investors. The company is predicted to post an EPS of $0.23, indicating a 91.67% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 18.68% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.15 per share and revenue of $6.81 billion, indicating changes of +74.24% and +12.5%, respectively, compared to the previous year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.68% higher. DraftKings is currently sporting a Zacks Rank of #5 (Strong Sell).
In the context of valuation, DraftKings is at present trading with a Forward P/E ratio of 21.61. This denotes a premium relative to the industry average Forward P/E of 16.07.
Meanwhile, DKNG's PEG ratio is currently 0.5. 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 1.46 as of yesterday's close.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.