Citizens Jmp Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $345.00

Flutter Entertainment (NYSE:FLUT) had its price target lifted by equities researchers at Citizens Jmp from $340.00 to $345.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 66.63% from the company’s previous close.

Several other equities analysts also recently issued reports on FLUT. BTIG Research reduced 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 note on Thursday. Macquarie increased their target price on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Sanford C. Bernstein lowered their price target on Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Canaccord Genuity Group increased their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Benchmark dropped their price target on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.61.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded down $27.41 during trading hours on Thursday, reaching $207.04. 5,254,051 shares of the company’s stock were exchanged, compared to its average volume of 2,337,827. The company’s 50 day moving average is $257.11 and its two-hundred day moving average is $268.97. The company has a market cap of $36.46 billion, a P/E ratio of 102.02 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 1 year low of $196.88 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping 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 business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the company posted $1.27 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer 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. The SEC filing for this sale provides additional information. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Barrett & Company Inc. acquired a new position in Flutter Entertainment in the 2nd quarter valued at approximately $29,000. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment during the third quarter valued at $27,000. SVB Wealth LLC acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $27,000. Finally, JCIC Asset Management Inc. bought a new stake in Flutter Entertainment in the third quarter worth $32,000.

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.