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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 $13.87, moving -0.64% from the previous trading session. This change lagged the S&P 500's 0.21% gain on the day. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.11%.
Prior to today's trading, shares of the company had lost 32.53% over the past month. This has lagged the Consumer Discretionary sector's loss of 12.4% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release, which is expected to be May 6, 2022. In that report, analysts expect DraftKings to post earnings of -$1.23 per share. This would mark a year-over-year decline of 41.38%. Our most recent consensus estimate is calling for quarterly revenue of $410.18 million, up 31.35% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.91 per share and revenue of $1.98 billion. These results would represent year-over-year changes of -3.44% and +53.14%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. DraftKings currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $13.87, moving -0.64% from the previous trading session. This change lagged the S&P 500's 0.21% gain on the day. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.11%.
Prior to today's trading, shares of the company had lost 32.53% over the past month. This has lagged the Consumer Discretionary sector's loss of 12.4% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release, which is expected to be May 6, 2022. In that report, analysts expect DraftKings to post earnings of -$1.23 per share. This would mark a year-over-year decline of 41.38%. Our most recent consensus estimate is calling for quarterly revenue of $410.18 million, up 31.35% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.91 per share and revenue of $1.98 billion. These results would represent year-over-year changes of -3.44% and +53.14%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. DraftKings currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.