FuboTV Inc. (FUBO) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, fuboTV Inc. (FUBO) closed at $6.55, marking a -0.3% move from the previous day. This change lagged the S&P 500's 0.34% gain on the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the company had lost 13.33% over the past month, lagging the Consumer Discretionary sector's loss of 2.57% and the S&P 500's gain of 3.75% in that time.
Wall Street will be looking for positivity from fuboTV Inc. as it approaches its next earnings report date. In that report, analysts expect fuboTV Inc. to post earnings of -$0.62 per share. This would mark a year-over-year decline of 12.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $238.42 million, up 99.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.54 per share and revenue of $1.1 billion, which would represent changes of +8.63% and +72.61%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for fuboTV Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. fuboTV Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% 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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