DraftKings (DKNG) Projected to Post Earnings on Thursday

DraftKings (NASDAQ:DKNG) is projected to announce its earnings results after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of $0.07 per share and revenue of $1.42 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, analysts expect DraftKings to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

DraftKings Stock Performance

Shares of DraftKings stock opened at $42.24 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. DraftKings has a 1 year low of $28.69 and a 1 year high of $49.57. The firm’s 50-day simple moving average is $40.40 and its 200-day simple moving average is $38.30. The firm has a market cap of $37.20 billion, a PE ratio of -48.00, a price-to-earnings-growth ratio of 3.14 and a beta of 1.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DKNG shares. Mizuho boosted their price target on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of DraftKings in a research note on Friday, November 8th. Barclays boosted their price objective on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. TD Cowen cut their target price on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Benchmark restated a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.92.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the sale, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 963,742 shares of company stock worth $38,082,888. Insiders own 48.94% of the company’s stock.

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.