DraftKings (DKNG) Stock Moves -0.33%: What You Should Know
DraftKings (DKNG) closed the most recent trading day at $48.16, moving -0.33% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.19%.
Coming into today, shares of the company had lost 19.75% in the past month. In that same time, the Consumer Discretionary sector lost 3.14%, while the S&P 500 lost 3.16%.
Investors will be hoping for strength from DKNG as it approaches its next earnings release. On that day, DKNG is projected to report earnings of -$1.09 per share, which would represent a year-over-year decline of 11.22%. Meanwhile, our latest consensus estimate is calling for revenue of $220.18 million, up 65.75% from the prior-year quarter.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.21 per share and revenue of $1.26 billion. These results would represent year-over-year changes of -16.3% and +105.16%, respectively.
Investors should also note any recent changes to analyst estimates for DKNG. Recent revisions tend to reflect the latest near-term business trends. 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 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% lower. DKNG 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 171, putting it in the bottom 33% 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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