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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $20.41, marking a -1.35% move from the previous day. This change lagged the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Prior to today's trading, shares of the company had lost 12.03% over the past month. This has lagged the Consumer Discretionary sector's gain of 0.44% and the S&P 500's gain of 6.02% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. In that report, analysts expect DraftKings to post earnings of -$1.22 per share. This would mark a year-over-year decline of 40.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $410.65 million, up 31.5% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.89 per share and revenue of $1.99 billion. These results would represent year-over-year changes of -2.91% and +53.52%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.18% lower within the past month. DraftKings currently has a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $20.41, marking a -1.35% move from the previous day. This change lagged the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Prior to today's trading, shares of the company had lost 12.03% over the past month. This has lagged the Consumer Discretionary sector's gain of 0.44% and the S&P 500's gain of 6.02% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. In that report, analysts expect DraftKings to post earnings of -$1.22 per share. This would mark a year-over-year decline of 40.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $410.65 million, up 31.5% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.89 per share and revenue of $1.99 billion. These results would represent year-over-year changes of -2.91% and +53.52%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.18% lower within the past month. DraftKings currently has a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.