Flutter Entertainment (NYSE:FLUT) Stock Gets Price Target Trim from Wells Fargo & Company

Key Points

• Wells Fargo cut its Flutter price target from $112 to $86 and kept an “equal weight” rating, implying about 4.3% upside from the current share price.
• Flutter’s latest quarter missed expectations: it reported a loss of $0.18 per share versus forecasts for $0.32 in earnings, while revenue of $3.87 billion also came in below estimates.
• Analyst views remain mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $131.74.

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $112.00 to $86.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 4.28% from the company's current price.

Other equities analysts have also issued research reports about the company. Barclays lowered their target price on Flutter Entertainment from $151.00 to $133.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. New Street Research set a $110.00 target price on shares of Flutter Entertainment in a research report on Thursday, September 3rd. Moffett Nathanson restated a "neutral" rating and issued a $92.00 price target on shares of Flutter Entertainment in a research note on Thursday, October 22nd. Wedbush lowered their price target on shares of Flutter Entertainment from $126.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday, October 8th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $160.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average price target of $131.74.

Flutter Entertainment Trading Down 1.5%

FLUT stock opened at $82.47 on Thursday. 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 company has a fifty day moving average price of $86.04 and a two-hundred day moving average price of $105.93. Flutter Entertainment has a one year low of $72.56 and a one year high of $235.77. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of -19.18, a price-to-earnings-growth ratio of 3.07 and a beta of 1.27.

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

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Bishop sold 741 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 $72,514.26. Following the completion of the transaction, the chief operating officer directly owned 16,864 shares in the company, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don Liu sold 565 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $55,290.90. Following the transaction, the insider owned 20,441 shares of the company's stock, valued at $2,000,356.26. This trade represents a 2.69% decrease in their ownership of the stock. 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 a total of 6,681 shares of company stock worth $644,214 in the last ninety days. Insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment during the 2nd quarter worth approximately $1,552,097,267. Hsbc Holdings PLC boosted its holdings in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company's stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the period. Amundi grew its position in shares of Flutter Entertainment by 463.7% during the 1st quarter. Amundi now owns 2,059,906 shares of the company's stock valued at $210,007,000 after purchasing an additional 1,694,474 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Flutter Entertainment during the 1st quarter valued at $40,562,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $9,881,000.

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

About Flutter Entertainment

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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