We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DraftKings (DKNG) Stock Moves -0.22%: What You Should Know
Read MoreHide Full Article
The most recent trading session ended with DraftKings (DKNG - Free Report) standing at $35.78, reflecting a -0.22% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
Prior to today's trading, shares of the company had lost 4.8% over the past month. This has lagged the Consumer Discretionary sector's loss of 3.37% and the S&P 500's loss of 0.26% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. On that day, DraftKings is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 82.35%. At the same time, our most recent consensus estimate is projecting a revenue of $1.11 billion, reflecting a 27.39% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.29 per share and a revenue of $5.02 billion, demonstrating changes of +83.24% and +36.85%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-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. 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 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 31.05% lower within the past month. DraftKings presently features a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DraftKings (DKNG) Stock Moves -0.22%: What You Should Know
The most recent trading session ended with DraftKings (DKNG - Free Report) standing at $35.78, reflecting a -0.22% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
Prior to today's trading, shares of the company had lost 4.8% over the past month. This has lagged the Consumer Discretionary sector's loss of 3.37% and the S&P 500's loss of 0.26% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. On that day, DraftKings is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 82.35%. At the same time, our most recent consensus estimate is projecting a revenue of $1.11 billion, reflecting a 27.39% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.29 per share and a revenue of $5.02 billion, demonstrating changes of +83.24% and +36.85%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-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. 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 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 31.05% lower within the past month. DraftKings presently features a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.