Flutter Entertainment (NYSE:FLUT) Stock Gets Price Target Reduction from Citizens Jmp

Key Points

• Citizens JMP cut its Flutter Entertainment price target from $129 to $116 but maintained a “market outperform” rating; the new target implies about 40.7% upside from the current share price.
• Flutter’s latest quarter missed expectations, with a $0.18-per-share loss versus analysts’ expected $0.32 profit and revenue of $3.87 billion versus $3.99 billion expected. A Brazil impairment contributed to the loss, and the company lowered its full-year outlook.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $131.74.

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target decreased by analysts at Citizens Jmp from $129.00 to $116.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price target would suggest a potential upside of 40.66% from the company's current price.

FLUT has been the topic of several other reports. New Street Research set a $110.00 target price on Flutter Entertainment in a research report on Thursday, September 3rd. Sanford C. Bernstein cut their price target on Flutter Entertainment from $110.00 to $100.00 and set a "market perform" rating for the company in a research note on Tuesday. Craig Hallum set a $95.00 price objective on Flutter Entertainment in a report on Friday, October 23rd. Wall Street Zen lowered Flutter Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Needham & Company LLC cut their price target on Flutter Entertainment from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.74.

Flutter Entertainment Stock Down 1.5%

FLUT stock opened at $82.47 on Thursday. Flutter Entertainment has a fifty-two week low of $72.56 and a fifty-two week high of $235.77. The stock has a fifty day moving average of $86.04 and a 200-day moving average of $105.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of -19.18, a PEG ratio of 3.07 and a beta of 1.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.50). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.99 billion. During the same period in the prior year, the firm earned $1.64 EPS. Flutter Entertainment's quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Flutter Entertainment will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Daniel Taylor sold 791 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $77,407.26. Following the completion of the sale, the chief executive officer directly owned 52,467 shares in the company, valued at $5,134,420.62. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 16,864 shares of the company's stock, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,681 shares of company stock worth $644,214 in the last three months. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. M&G PLC grew its holdings in Flutter Entertainment by 3.2% during the 3rd quarter. M&G PLC now owns 146,500 shares of the company's stock worth $10,988,000 after acquiring an additional 4,577 shares during the period. AlphaCore Capital LLC purchased a new stake in shares of Flutter Entertainment during the third quarter valued at approximately $269,000. Hohimer Wealth Management LLC bought a new position in Flutter Entertainment in the 3rd quarter worth $397,000. Ethic Inc. increased its stake in shares of Flutter Entertainment by 21.6% during the third quarter. Ethic Inc. now owns 5,389 shares of the company's stock valued at $402,000 after purchasing an additional 957 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Flutter Entertainment by 50.6% during the third quarter. Parallel Advisors LLC now owns 917 shares of the company's stock valued at $68,000 after buying an additional 308 shares during the last quarter.

More Flutter Entertainment News

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: U.S. revenue was a bright spot in an otherwise disappointing quarter, offering evidence of continued growth in a key market. Article
• Positive Sentiment: An analysis argued that Flutter could be about 35% undervalued after the Brazil impairment, suggesting potential upside if investors look past the near-term hit. Article
• Positive Sentiment: Susquehanna raised its price target to $101 and retained a positive rating, signaling confidence in longer-term prospects despite the weaker results.
• Negative Sentiment: Q3 revenue of $3.874 billion rose about 2% year over year but missed expectations; Flutter reported a $0.18-per-share loss versus analysts’ expected profit. A roughly $873 million Brazil impairment contributed to a net loss exceeding $1 billion. Article
• Negative Sentiment: Flutter cut its full-year outlook after missing Q3 revenue and EBITDA estimates. The company cited a combination of a tax increase, unfavorable football results and Brazil’s betting ban as headwinds. Article
• Negative Sentiment: The company paused share buybacks to prioritize debt reduction and cost savings, while its increased use of FanDuel promotions to attract customers may weigh on profits. Article

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

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, and Sisal and SNAI in Italy.

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