Flutter Entertainment (NYSE:FLUT) Price Target Cut to $330.00 by Analysts at Stifel Nicolaus

Flutter Entertainment (NYSE:FLUT) had its price target trimmed by Stifel Nicolaus from $339.00 to $330.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

FLUT has been the subject of a number of other research reports. Sanford C. Bernstein cut their price objective on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flutter Entertainment in a research report on Wednesday, October 8th. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Barclays raised their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, JMP Securities dropped their price objective on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average price target of $319.22.

Flutter Entertainment Stock Performance

FLUT traded down $2.03 during trading on Thursday, hitting $198.97. The stock had a trading volume of 5,126,471 shares, compared to its average volume of 2,371,479. The company has a 50 day moving average price of $253.33 and a 200-day moving average price of $268.25. The firm has a market cap 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 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 (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.87. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts predict that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback 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 often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction dated 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 transaction, the chief executive officer 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 SEC filing for this sale provides additional information. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new position in Flutter Entertainment in the 1st quarter valued at approximately $27,000. JFS Wealth Advisors LLC bought a new stake in shares of Flutter Entertainment in the third quarter worth $27,000. ORG Partners LLC increased its holdings in Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. bought a new position in Flutter Entertainment during the 2nd quarter worth $29,000. Finally, JCIC Asset Management Inc. bought a new position in Flutter Entertainment during the 3rd quarter worth $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.