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DraftKings (DKNG) Dips More Than Broader Market: What You Should Know
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DraftKings (DKNG - Free Report) closed the most recent trading day at $38.04, moving -0.63% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The company's stock has dropped by 0.42% in the past month, falling short of the Consumer Discretionary sector's gain of 2.68% and the S&P 500's gain of 5.94%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. On that day, DraftKings is projected to report earnings of -$0.43 per share, which would represent year-over-year growth of 29.51%. Simultaneously, our latest consensus estimate expects the revenue to be $1.11 billion, showing a 40.68% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.31 per share and a revenue of $5.16 billion, signifying shifts of +82.08% and +40.77%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.36% lower. As of now, DraftKings holds a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Dips More Than Broader Market: What You Should Know
DraftKings (DKNG - Free Report) closed the most recent trading day at $38.04, moving -0.63% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The company's stock has dropped by 0.42% in the past month, falling short of the Consumer Discretionary sector's gain of 2.68% and the S&P 500's gain of 5.94%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. On that day, DraftKings is projected to report earnings of -$0.43 per share, which would represent year-over-year growth of 29.51%. Simultaneously, our latest consensus estimate expects the revenue to be $1.11 billion, showing a 40.68% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.31 per share and a revenue of $5.16 billion, signifying shifts of +82.08% and +40.77%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.36% lower. As of now, DraftKings holds a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.