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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
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DraftKings (DKNG - Free Report) closed at $27.36 in the latest trading session, marking a -1.44% move from the prior day. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.45%.
Heading into today, shares of the company had lost 1.39% over the past month, outpacing the Consumer Discretionary sector's loss of 3.97% and lagging the S&P 500's loss of 1.38% 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 -$0.69 per share. This would mark year-over-year growth of 31%. Our most recent consensus estimate is calling for quarterly revenue of $689.06 million, up 37.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.62 per share and revenue of $3.53 billion. These totals would mark changes of +48.73% and +57.43%, respectively, from last year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.04% 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 148, putting it in the bottom 42% 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.
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) Stock Sinks As Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed at $27.36 in the latest trading session, marking a -1.44% move from the prior day. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.45%.
Heading into today, shares of the company had lost 1.39% over the past month, outpacing the Consumer Discretionary sector's loss of 3.97% and lagging the S&P 500's loss of 1.38% 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 -$0.69 per share. This would mark year-over-year growth of 31%. Our most recent consensus estimate is calling for quarterly revenue of $689.06 million, up 37.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.62 per share and revenue of $3.53 billion. These totals would mark changes of +48.73% and +57.43%, respectively, from last year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.04% 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 148, putting it in the bottom 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.