Equities analysts expect that DraftKings Inc. (NASDAQ:DKNG) will report $220.99 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for DraftKings’ earnings, with the lowest sales estimate coming in at $215.00 million and the highest estimate coming in at $227.58 million. DraftKings posted sales of $132.84 million in the same quarter last year, which suggests a positive year-over-year growth rate of 66.4%. The company is expected to announce its next quarterly earnings report on Friday, November 12th.
On average, analysts expect that DraftKings will report full year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.30 billion. For the next financial year, analysts expect that the company will report sales of $1.69 billion, with estimates ranging from $1.59 billion to $1.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for DraftKings.
DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Friday, August 6th. The company reported ($0.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.15). DraftKings had a negative net margin of 118.88% and a negative return on equity of 55.33%. The firm had revenue of $297.61 million during the quarter, compared to analyst estimates of $240.84 million.
In other DraftKings news, insider Jason Robins sold 333,334 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $44.08, for a total transaction of $14,693,362.72. Following the transaction, the insider now owns 4,645,949 shares in the company, valued at approximately $204,793,431.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shalom Meckenzie sold 660,000 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $53.71, for a total value of $35,448,600.00. Following the transaction, the director now owns 19,769,268 shares in the company, valued at approximately $1,061,807,384.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,998,367 shares of company stock valued at $273,249,830. 62.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Western Wealth Management LLC acquired a new stake in shares of DraftKings in the 2nd quarter worth approximately $365,000. Platform Technology Partners purchased a new position in shares of DraftKings during the 2nd quarter worth $602,000. Financial Counselors Inc. lifted its stake in shares of DraftKings by 16.0% during the 2nd quarter. Financial Counselors Inc. now owns 56,310 shares of the company’s stock worth $2,938,000 after purchasing an additional 7,762 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of DraftKings by 0.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 116,287 shares of the company’s stock worth $6,588,000 after purchasing an additional 332 shares during the period. Finally, Morgens Waterfall Vintiadis & Co. Inc. purchased a new position in shares of DraftKings during the 1st quarter worth $4,275,000. Institutional investors and hedge funds own 61.91% of the company’s stock.
Shares of NASDAQ DKNG traded up $0.45 during trading on Monday, reaching $60.42. The stock had a trading volume of 9,419,300 shares, compared to its average volume of 10,995,707. DraftKings has a fifty-two week low of $34.90 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.72 and a current ratio of 4.72. The business’s 50-day moving average price is $53.80 and its 200-day moving average price is $55.22. The company has a market cap of $24.37 billion, a P/E ratio of -18.31 and a beta of 1.94.
DraftKings Company Profile
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
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