Citizens Jmp Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Key Points

• Citizens JMP lowered Flutter Entertainment’s price target to $129 from $145 while maintaining a “market outperform” rating, implying roughly 65% upside from the stock’s previous close.
• Analyst sentiment remains broadly positive, with MarketBeat reporting a “Moderate Buy” consensus and an average target price of $143.59, despite several firms recently cutting their targets.
• Flutter’s latest quarter showed revenue of $4.33 billion, ahead of estimates, but earnings per share of $0.49 missed expectations; shares opened at $78.18 and remained near their one-year low.

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price decreased by stock analysts at Citizens Jmp from $145.00 to $129.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target would indicate a potential upside of 65.01% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft set a $148.00 price target on Flutter Entertainment in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Flutter Entertainment in a research report on Monday, August 24th. New Street Research set a $110.00 target price on shares of Flutter Entertainment in a report on Thursday, September 3rd. Susquehanna dropped their target price on shares of Flutter Entertainment from $115.00 to $100.00 and set a "positive" rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment has an average rating of "Moderate Buy" and an average target price of $143.59.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $78.18 on Tuesday. The company has a 50-day simple moving average of $92.43 and a two-hundred day simple moving average of $99.84. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $13.57 billion, a PE ratio of -18.18, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. Flutter Entertainment has a one year low of $73.50 and a one year high of $255.26.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. On average, analysts anticipate that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 710 shares of Flutter Entertainment stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the transaction, the chief financial officer owned 22,778 shares in the company, valued at approximately $2,229,055.08. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $72,514.26. Following the completion of the sale, the chief operating officer directly owned 16,864 shares in the company, valued at $1,650,311.04. This trade represents a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,681 shares of company stock valued at $644,214 in the last ninety days. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently bought and sold shares of FLUT. Parallel Advisors LLC lifted its holdings in shares of Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company's stock valued at $47,000 after purchasing an additional 382 shares in the last quarter. CX Institutional increased its holdings in Flutter Entertainment by 729.7% in the 2nd quarter. CX Institutional now owns 531 shares of the company's stock worth $54,000 after buying an additional 467 shares in the last quarter. Allworth Financial LP increased its holdings in Flutter Entertainment by 167.8% in the 2nd quarter. Allworth Financial LP now owns 557 shares of the company's stock worth $57,000 after buying an additional 349 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company's stock worth $67,000 after buying an additional 250 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Flutter Entertainment in the 2nd quarter worth about $119,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, Sisal in Italy and other markets, and tombola, an online bingo operator.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.