DraftKings (DKNG) to Release Earnings on Thursday

DraftKings (NASDAQ:DKNG - Get Free Report) is scheduled 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.Parties interested in registering for the company's conference call can do so using this link.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.16). DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. The firm's revenue for the quarter was up 43.9% compared to the same quarter last year. On average, analysts expect DraftKings to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DraftKings Price Performance

Shares of DKNG stock traded up $0.24 during mid-day trading on Thursday, reaching $41.09. The stock had a trading volume of 7,680,080 shares, compared to its average volume of 11,639,979. The company has a market cap of $35.61 billion, a P/E ratio of -23.48 and a beta of 1.86. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. DraftKings has a 12-month low of $20.26 and a 12-month high of $49.57. The business has a 50-day simple moving average of $43.63 and a 200 day simple moving average of $38.24.

Insider Buying and Selling at DraftKings

In other news, insider R Stanton Dodge sold 686,101 shares of the company's stock in a transaction dated 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 sale, the insider now owns 200,239 shares in the company, valued at approximately $8,622,291.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider R Stanton Dodge sold 686,101 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the sale, the insider now owns 3,043,231 shares in the company, valued at $124,498,580.21. The disclosure for this sale can be found here. Insiders have sold 1,596,101 shares of company stock worth $66,303,509 in the last ninety days. 51.19% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of DraftKings in a research report on Tuesday, April 16th. They set a "buy" rating and a $60.00 target price for the company. Mizuho assumed coverage on DraftKings in a report on Tuesday, March 26th. They issued a "buy" rating and a $58.00 price target for the company. Bank Of America (Bofa) increased their price target on DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Needham & Company LLC lifted their price objective on DraftKings from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company increased their target price on DraftKings from $39.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.31.

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.