BTIG Research Lowers Flutter Entertainment (NYSE:FLUT) Price Target to $126.00

Flutter Entertainment (NYSE:FLUT) had its price target dropped by stock analysts at BTIG Research from $137.00 to $126.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 27.19% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Kepler Capital Markets cut Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Citizens Jmp dropped their price target on Flutter Entertainment from $195.00 to $188.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 8th. Finally, Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.14.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $99.07 on Thursday. Flutter Entertainment has a 52 week low of $97.94 and a 52 week high of $313.68. The business has a 50-day simple moving average of $107.86 and a 200 day simple moving average of $167.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of -55.04, a PEG ratio of 1.59 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm earned $2.94 earnings per share. Flutter Entertainment’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, research analysts forecast that Flutter Entertainment will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. This trade represents a 10.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,834 shares of company stock valued at $1,900,331. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares during the period. Capital International Investors increased its holdings in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after purchasing an additional 4,782,302 shares during the period. Cibc World Markets Corp purchased a new position in Flutter Entertainment during the 4th quarter valued at about $1,678,841,000. Caledonia Private Investments Pty Ltd increased its holdings in Flutter Entertainment by 3.8% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the period.

Flutter Entertainment News Roundup

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Share repurchase activity — Flutter cancelled 253,947 ordinary shares as part of its ongoing $5bn buyback programme, signalling continued capital return and share-count reduction. Read More.
• Positive Sentiment: Top-line beat — Q1 revenue came in ahead of estimates (~$4.30B vs consensus ~$4.24B) and some outlets reported EPS slightly topping expectations (Zacks reported $1.22 vs $1.15 est.), showing demand growth despite margin pressure. Read More.
• Neutral Sentiment: Analyst view — Consensus brokerage coverage remains constructive (consensus “Moderate Buy”), which supports medium-term demand for the shares. Read More.
• Neutral Sentiment: Corporate schedule/IR access — Management will appear at a J.P. Morgan fireside chat next week, giving investors a chance for more direct color on US strategy and outlook. Read More.
• Negative Sentiment: Profitability and US drag — Investors focused on the bottom line: net income fell sharply (reports cite ~38% decline to $209M, EPS down ~22%), and higher costs from acquisitions and investment in US prediction markets pressured margins — a key reason for the intraday selloff. Read More.
• Negative Sentiment: Leadership upheaval at FanDuel — FanDuel CEO Amy Howe has departed and Flutter restructured US leadership (Dan Taylor to oversee US operations), adding near-term execution risk while management transitions occur. Read More. Read More.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.