DraftKings (DKNG) closed at $40.36 in the latest trading session, marking a -1.42% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.

Shares of the company witnessed a gain of 20.8% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 4.45% and the S&P 500's gain of 2.43%.

Market participants will be closely following the financial results of DraftKings in its upcoming release. In that report, analysts expect DraftKings to post earnings of -$0.43 per share. This would mark year-over-year growth of 29.51%. Our most recent consensus estimate is calling for quarterly revenue of $1.11 billion, up 40.68% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $5.16 billion. These totals would mark changes of +82.08% and +40.77%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.36% downward. DraftKings currently has a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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