DraftKings (DKNG) Set to Announce Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNG) will announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.43) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts expect DraftKings to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DraftKings Stock Up 0.3 %

DKNG stock opened at $36.87 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $32.39 billion, a P/E ratio of -41.43 and a beta of 1.81. DraftKings has a 52-week low of $26.42 and a 52-week high of $49.57. The company’s 50 day simple moving average is $37.35 and its 200-day simple moving average is $38.17.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares in the company, valued at $5,662,581.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the completion of the transaction, the insider now directly owns 2,678,082 shares in the company, valued at $94,402,390.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares in the company, valued at $5,662,581.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,220,536 shares of company stock worth $46,110,465. 48.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DKNG has been the subject of several recent analyst reports. Mizuho raised their target price on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Susquehanna lifted their target price on DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a research note on Monday, October 7th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Bank of America lowered their price objective on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.22.

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.