Flutter Entertainment (NYSE:FLUT) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Flutter Entertainment (NYSE:FLUT) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on FLUT. Citigroup downgraded Flutter Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings lowered Flutter Entertainment from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, November 13th. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Canaccord Genuity Group reduced their price target on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, BTIG Research lowered their price objective on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $317.67.

Flutter Entertainment Stock Up 0.2%

Shares of NYSE FLUT traded up $0.41 during trading on Monday, hitting $193.68. The stock had a trading volume of 778,824 shares, compared to its average volume of 2,368,271. The firm has a fifty day moving average of $247.45 and a two-hundred day moving average of $267.37. The company has a market capitalization of $33.95 billion, a PE ratio of 95.36 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment has a 12 month low of $189.40 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the firm earned $1.27 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a share repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in Flutter Entertainment during the first quarter valued at $27,000. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $27,000. ORG Partners LLC boosted its position in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at about $29,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Flutter Entertainment during the third quarter worth about $32,000.

Flutter Entertainment Company Profile

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.