Wall Street brokerages forecast that Draftkings Inc (NASDAQ:DKNG) will post earnings per share (EPS) of ($0.31) for the current quarter, Zacks reports. Four analysts have provided estimates for Draftkings’ earnings, with estimates ranging from ($0.44) to ($0.20). The firm is scheduled to report its next quarterly earnings results on Friday, November 13th.
According to Zacks, analysts expect that Draftkings will report full year earnings of ($1.24) per share for the current financial year, with EPS estimates ranging from ($1.55) to ($1.04). For the next financial year, analysts forecast that the company will report earnings of ($0.86) per share, with EPS estimates ranging from ($1.34) to ($0.50). Zacks’ EPS averages are an average based on a survey of research analysts that cover Draftkings.
Draftkings (NASDAQ:DKNG) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.40).
A number of equities research analysts have weighed in on DKNG shares. Bank of America initiated coverage on Draftkings in a report on Tuesday, September 8th. They issued a “neutral” rating and a $40.00 price objective on the stock. Susquehanna Bancshares lifted their price target on shares of Draftkings from $35.00 to $48.00 in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of Draftkings in a research report on Monday, August 17th. Northland Securities reiterated a “buy” rating and set a $50.00 price target on shares of Draftkings in a research report on Wednesday, August 19th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Draftkings in a research report on Monday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Draftkings currently has an average rating of “Buy” and a consensus price target of $45.00.
In other Draftkings news, insider Jason Robins sold 548,862 shares of Draftkings stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $38.80, for a total value of $21,295,845.60. Following the completion of the sale, the insider now directly owns 758,050 shares of the company’s stock, valued at approximately $29,412,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Park sold 76,128 shares of Draftkings stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $38.80, for a total transaction of $2,953,766.40. Following the completion of the sale, the chief financial officer now directly owns 14,497 shares of the company’s stock, valued at $562,483.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,471,338 shares of company stock valued at $57,087,914 over the last 90 days.
Hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL purchased a new stake in Draftkings in the 2nd quarter worth approximately $310,000. Wesbanco Bank Inc. purchased a new stake in shares of Draftkings during the 2nd quarter valued at $948,000. Telemus Capital LLC purchased a new stake in shares of Draftkings during the 2nd quarter valued at $333,000. Kistler Tiffany Companies LLC purchased a new stake in shares of Draftkings during the 2nd quarter valued at $52,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Draftkings during the 2nd quarter valued at $346,000. 51.47% of the stock is owned by hedge funds and other institutional investors.
Shares of DKNG opened at $48.62 on Thursday. Draftkings has a twelve month low of $9.84 and a twelve month high of $49.31. The firm has a 50 day simple moving average of $36.05.
Draftkings Company Profile
DraftKings Inc operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting, and iGaming opportunities. It is also involved the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
Further Reading: Why Net Income is Important to Investors
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