Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $325.00 at Barclays

Flutter Entertainment (NYSE:FLUT) had its price objective lowered by equities research analysts at Barclays from $352.00 to $325.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 62.22% from the company’s current price.

Several other analysts also recently weighed in on FLUT. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. Macquarie increased their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Truist Financial decreased their price target on Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday. Benchmark lowered their price objective on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flutter Entertainment in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.22.

Flutter Entertainment Price Performance

FLUT stock traded down $34.10 during mid-day trading on Thursday, hitting $200.35. 8,886,803 shares of the stock were exchanged, compared to its average volume of 2,352,809. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 98.69 and a beta of 1.84. The business has a fifty day moving average price of $257.11 and a 200 day moving average price of $268.97. Flutter Entertainment has a 12 month low of $196.88 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.87. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction dated 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. The trade was a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in FLUT. Bank of New York Mellon Corp grew its position in shares of Flutter Entertainment by 120.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after buying an additional 248,109 shares during the period. Jefferies Financial Group Inc. boosted its stake in Flutter Entertainment by 5.4% during the first quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock worth $3,995,000 after acquiring an additional 928 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Flutter Entertainment in the first quarter worth about $1,700,000. Fortis Capital Advisors LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $665,000. Finally, Corton Capital Inc. purchased a new position in shares of Flutter Entertainment during the second quarter valued at approximately $556,000.

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.