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Here's Why DraftKings (DKNG) Fell More Than Broader Market
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $24.84, marking a -1.62% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 1.47%.
The company's shares have seen a decrease of 4.07% over the last month, not keeping up with the Consumer Discretionary sector's loss of 0.58% and the S&P 500's gain of 0.53%.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2026. The company is forecasted to report an EPS of $0.28, showcasing a 26.32% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.54 billion, reflecting a 2.01% rise from the equivalent quarter last year.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of $1.12 per share and revenue of $6.81 billion. These results would represent year-over-year changes of +69.7% and +12.41%, respectively.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5% decrease. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, DraftKings is currently trading at a Forward P/E ratio of 22.49. This indicates a premium in contrast to its industry's Forward P/E of 18.51.
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 193, placing it within the bottom 22% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Here's Why DraftKings (DKNG) Fell More Than Broader Market
In the latest trading session, DraftKings (DKNG - Free Report) closed at $24.84, marking a -1.62% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 1.47%.
The company's shares have seen a decrease of 4.07% over the last month, not keeping up with the Consumer Discretionary sector's loss of 0.58% and the S&P 500's gain of 0.53%.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2026. The company is forecasted to report an EPS of $0.28, showcasing a 26.32% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.54 billion, reflecting a 2.01% rise from the equivalent quarter last year.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of $1.12 per share and revenue of $6.81 billion. These results would represent year-over-year changes of +69.7% and +12.41%, respectively.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5% decrease. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, DraftKings is currently trading at a Forward P/E ratio of 22.49. This indicates a premium in contrast to its industry's Forward P/E of 18.51.
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 193, placing it within the bottom 22% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.