Flutter Entertainment (NYSE:FLUT) Price Target Raised to $345.00

Flutter Entertainment (NYSE:FLUT) had its price target boosted by Citizens Jmp from $340.00 to $345.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts have also issued research reports about the stock. Oppenheimer lowered their target price on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. UBS Group reaffirmed a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Truist Financial cut their target price on shares of Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Citigroup lowered Flutter Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $319.22.

Flutter Entertainment Stock Down 1.0%

NYSE:FLUT opened at $198.97 on Thursday. The company has a market capitalization of $35.04 billion, a price-to-earnings ratio of 98.01 and a beta of 1.84. Flutter Entertainment has a one year low of $193.27 and a one year high of $313.68. The stock has a 50-day simple moving average of $253.33 and a 200 day simple moving average of $268.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business posted $1.27 EPS. Flutter Entertainment’s quarterly revenue was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLUT. Vanguard Group Inc. raised its stake in shares of Flutter Entertainment by 402.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after purchasing an additional 13,822,673 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment during the second quarter valued at approximately $2,231,266,000. Norges Bank acquired a new stake in Flutter Entertainment in the second quarter valued at approximately $930,349,000. State Street Corp grew its position in Flutter Entertainment by 120.3% in the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after acquiring an additional 1,685,556 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after purchasing an additional 1,322,016 shares during the last quarter.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.