DraftKings (DKNG) Scheduled to Post Earnings on Thursday

DraftKings (NASDAQ:DKNG) is set to announce its earnings results 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 are interested in registering for the company’s conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted ($0.53) EPS. The company’s revenue 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 Trading Down 0.9 %

DKNG opened at $40.85 on Thursday. The stock has a market capitalization of $35.40 billion, a price-to-earnings ratio of -23.34 and a beta of 1.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. DraftKings has a twelve month low of $20.26 and a twelve month high of $49.57. The company has a 50-day simple moving average of $43.63 and a 200 day simple moving average of $38.24.

Analyst Ratings Changes

A number of research firms have weighed in on DKNG. UBS Group increased their target price on shares of DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Wells Fargo & Company increased their target price on shares of DraftKings from $39.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. BMO Capital Markets increased their target price on shares of DraftKings from $43.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. JMP Securities reissued a “market outperform” rating and set a $52.00 target price on shares of DraftKings in a research report on Monday, March 25th. Finally, Mizuho began coverage on shares of DraftKings in a research report on Tuesday, March 26th. They set a “buy” rating and a $58.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.31.

Insider Buying and Selling at DraftKings

In related news, insider Paul Liberman sold 510,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the completion of the sale, the insider now owns 2,291,406 shares of the company’s stock, valued at $91,656,240. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was 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 of the company’s stock, valued at $124,498,580.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Liberman sold 510,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the transaction, the insider now owns 2,291,406 shares of the company’s stock, valued at $91,656,240. The disclosure for this sale can be found here. Insiders sold 1,596,101 shares of company stock valued at $66,303,509 over the last quarter. 48.94% of the stock is currently owned by insiders.

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.