Yahoo Finance DraftKings (DKNG) Stock Moves -1.13%: What You Should Know
The most recent trading session ended with DraftKings (DKNG) standing at $43.72, reflecting a -1.13% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 1.79%.
Prior to today's trading, shares of the company had gained 5.84% over the past month. This has outpaced the Consumer Discretionary sector's loss of 4.46% and the S&P 500's loss of 0.85% in that time.
The upcoming earnings release of DraftKings will be of great interest to investors. On that day, DraftKings is projected to report earnings of -$0.28 per share, which would represent year-over-year growth of 67.82%. Our most recent consensus estimate is calling for quarterly revenue of $1.12 billion, up 45.18% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.25 per share and a revenue of $4.82 billion, indicating changes of +85.55% and +31.51%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.38% lower. Currently, DraftKings is carrying 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 199, positioning it in the bottom 22% of all 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.
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 Inc. (DKNG) : Free Stock Analysis Report
