DraftKings (DKNG) Scheduled to Post Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNG) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect DraftKings to post earnings of ($0.28) per share for the quarter. DraftKings has set its FY 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the firm 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 Trading Down 0.8 %

Shares of DraftKings stock opened at $42.78 on Tuesday. DraftKings has a 12-month low of $21.07 and a 12-month high of $49.57. The stock has a market capitalization of $37.07 billion, a P/E ratio of -24.45 and a beta of 1.86. The company has a 50-day simple moving average of $43.50 and a 200 day simple moving average of $38.56. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49.

Insider Transactions at DraftKings

In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value 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 approximately $130,676,752.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on 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 $130,676,752.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the sale, the insider now owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Insiders sold a total of 1,086,101 shares of company stock worth $45,903,509 in the last three months. Insiders own 48.94% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of DraftKings from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. BNP Paribas cut DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Friday, January 19th. Barclays lifted their price objective on DraftKings from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. BMO Capital Markets increased their target price on DraftKings from $43.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Morgan Stanley increased their price objective on shares of DraftKings from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $47.38.

About DraftKings

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.