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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
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DraftKings (DKNG - Free Report) closed at $51.67 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily gain of 0.33%.
Prior to today's trading, shares of the company had gained 1.31% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.42% and the S&P 500's gain of 1.74% in that time.
DKNG will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.61, down 177.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $240.84 million, up 239.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.92 per share and revenue of $1.13 billion, which would represent changes of -5.8% and +83.6%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed at $51.67 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily gain of 0.33%.
Prior to today's trading, shares of the company had gained 1.31% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.42% and the S&P 500's gain of 1.74% in that time.
DKNG will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.61, down 177.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $240.84 million, up 239.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.92 per share and revenue of $1.13 billion, which would represent changes of -5.8% and +83.6%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.