Flutter Entertainment PLC (NYSE:FLUT) Receives $189.26 Consensus PT from Analysts

Shares of Flutter Entertainment PLC (NYSE:FLUT) have earned an average rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $189.2609.

Several research firms have commented on FLUT. BTIG Research cut their price target on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC lowered their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research note on Friday, April 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company lowered their target price on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the purchase, the chief executive officer directly owned 34,584 shares in the company, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 23,828 shares worth $2,477,625. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

Institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Zions Bancorporation National Association UT boosted its stake in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after buying an additional 118 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $34,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares in the last quarter.

Flutter Entertainment Trading Down 1.3%

FLUT opened at $100.71 on Monday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of -47.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. Flutter Entertainment has a 52 week low of $91.52 and a 52 week high of $313.68. The business’s 50 day moving average is $102.59 and its two-hundred day moving average is $147.74. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 earnings per share. On average, research analysts predict that Flutter Entertainment will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.