DraftKings (DKNG) to Release Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNG) will likely be issuing its quarterly earnings data 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. Investors interested in registering for the company’s conference call can do so using this link.

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

DraftKings Stock Up 1.2 %

DKNG opened at $42.24 on Thursday. DraftKings has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of -48.00, a PEG ratio of 3.14 and a beta of 1.93. The company has a fifty day moving average of $40.40 and a two-hundred day moving average of $38.30.

Insider Buying and Selling

In other news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the sale, the insider now owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares in the company, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 963,742 shares of company stock worth $38,082,888. 48.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on DKNG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research note on Tuesday, January 7th. Barclays raised their target price on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their target price on shares of DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

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.