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DraftKings (DKNG) Gains As Market Dips: What You Should Know
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DraftKings (DKNG - Free Report) closed at $24.95 in the latest trading session, marking a +0.77% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the company had gained 2.02% over the past month. This has lagged the Consumer Discretionary sector's gain of 2.03% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. The company is expected to report EPS of -$0.29, up 42% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $722.65 million, up 55.01% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.87 per share and revenue of $3.2 billion. These totals would mark changes of +40.82% and +42.97%, respectively, from last year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. DraftKings is holding a Zacks Rank of #2 (Buy) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DraftKings (DKNG) Gains As Market Dips: What You Should Know
DraftKings (DKNG - Free Report) closed at $24.95 in the latest trading session, marking a +0.77% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the company had gained 2.02% over the past month. This has lagged the Consumer Discretionary sector's gain of 2.03% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. The company is expected to report EPS of -$0.29, up 42% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $722.65 million, up 55.01% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.87 per share and revenue of $3.2 billion. These totals would mark changes of +40.82% and +42.97%, respectively, from last year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. DraftKings is holding a Zacks Rank of #2 (Buy) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.