DraftKings (DKNG) to Release Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNG) is set to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.28) per share for the quarter. DraftKings has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.53) EPS. On average, analysts expect DraftKings to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DraftKings Stock Down 0.8 %

Shares of DraftKings stock opened at $42.78 on Tuesday. The firm has a market cap of $37.07 billion, a price-to-earnings ratio of -24.45 and a beta of 1.86. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings has a 1 year low of $21.07 and a 1 year high of $49.57. The company has a 50-day moving average of $43.50 and a 200 day moving average of $38.56.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now directly owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total transaction of $8,178,000.00. Following the completion of the sale, the insider now owns 3,195,812 shares of the company’s stock, valued at $130,676,752.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now directly owns 200,239 shares in the company, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,086,101 shares of company stock valued at $45,903,509. 48.94% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DKNG shares. The Goldman Sachs Group started coverage on shares of DraftKings in a report on Tuesday, April 16th. They set a “buy” rating and a $60.00 price objective on the stock. BNP Paribas downgraded shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Friday, January 19th. Truist Financial reissued a “buy” rating and issued a $55.00 price target (up from $45.00) on shares of DraftKings in a report on Tuesday, February 20th. Bank Of America (Bofa) raised their price objective on shares of DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Finally, UBS Group boosted their target price on shares of DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.38.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.