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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
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DraftKings (DKNG - Free Report) closed the most recent trading day at $51.80, moving -0.71% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Heading into today, shares of the company had gained 2.35% over the past month, lagging the Consumer Discretionary sector's gain of 10.71% and outpacing the S&P 500's gain of 2.25% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release. In that report, analysts expect DKNG to post earnings of -$0.57 per share. This would mark a year-over-year decline of 159.09%. Meanwhile, our latest consensus estimate is calling for revenue of $240.84 million, up 239.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.94 per share and revenue of $1.13 billion, which would represent changes of -6.52% and +83.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DKNG. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% lower. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed the most recent trading day at $51.80, moving -0.71% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Heading into today, shares of the company had gained 2.35% over the past month, lagging the Consumer Discretionary sector's gain of 10.71% and outpacing the S&P 500's gain of 2.25% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release. In that report, analysts expect DKNG to post earnings of -$0.57 per share. This would mark a year-over-year decline of 159.09%. Meanwhile, our latest consensus estimate is calling for revenue of $240.84 million, up 239.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.94 per share and revenue of $1.13 billion, which would represent changes of -6.52% and +83.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DKNG. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% lower. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.