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Why DraftKings (DKNG) Dipped More Than Broader Market Today
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DraftKings (DKNG - Free Report) ended the recent trading session at $36.89, demonstrating a -1.78% swing from the preceding day's closing price. This change lagged the S&P 500's 0.11% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had lost 14.7% in the past month. In that same time, the Consumer Discretionary sector gained 0.05%, while the S&P 500 gained 3.51%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. In that report, analysts expect DraftKings to post earnings of $0.02 per share. This would mark year-over-year growth of 111.76%. Meanwhile, our latest consensus estimate is calling for revenue of $1.1 billion, up 26.17% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $4.95 billion. These totals would mark changes of +87.86% and +35.07%, respectively, from last year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.71% lower within the past month. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why DraftKings (DKNG) Dipped More Than Broader Market Today
DraftKings (DKNG - Free Report) ended the recent trading session at $36.89, demonstrating a -1.78% swing from the preceding day's closing price. This change lagged the S&P 500's 0.11% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had lost 14.7% in the past month. In that same time, the Consumer Discretionary sector gained 0.05%, while the S&P 500 gained 3.51%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. In that report, analysts expect DraftKings to post earnings of $0.02 per share. This would mark year-over-year growth of 111.76%. Meanwhile, our latest consensus estimate is calling for revenue of $1.1 billion, up 26.17% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $4.95 billion. These totals would mark changes of +87.86% and +35.07%, respectively, from last year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.71% lower within the past month. DraftKings is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.