Flutter Entertainment PLC (NYSE:FLUT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Of 30 firms covering Flutter Entertainment, 17 rate it a buy, two a strong buy, eight a hold and three a sell. The average 12-month price target is $156.88, though recent targets ranged from $80 to $140.
• Flutter reported mixed quarterly results: Revenue rose 3.3% year over year to $4.33 billion, exceeding estimates, but adjusted earnings of $0.49 per share fell short of the $0.54 consensus. Analysts expect full-year earnings of approximately $3.48 per share.
• The stock remains well below its annual high: FLUT opened at $100.53, compared with a 52-week range of $89.71 to $292.76, while insiders sold 6,681 shares worth $644,214 over the last quarter, primarily to cover tax obligations on vested equity awards.

Shares of Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) have been given an average rating of "Moderate Buy" by the thirty research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $156.8846.

Several brokerages recently issued reports on FLUT. BNP Paribas Exane assumed coverage on Flutter Entertainment in a research report on Thursday, May 14th. They set an "underperform" rating and a $80.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. UBS Group decreased their price target on Flutter Entertainment from $160.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d)" rating on shares of Flutter Entertainment in a research report on Monday, August 24th. Finally, Wells Fargo & Company cut their price objective on Flutter Entertainment from $137.00 to $112.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 6th.

Insider Activity

In other news, CEO Daniel Taylor sold 791 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $77,407.26. Following the transaction, the chief executive officer owned 52,467 shares in the company, valued at approximately $5,134,420.62. The trade was a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 2,112 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total transaction of $197,091.84. Following the completion of the sale, the chief executive officer directly owned 72,214 shares in the company, valued at approximately $6,739,010.48. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,681 shares of company stock worth $644,214. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Zions Bancorporation National Association UT raised its position in shares of Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock worth $27,000 after acquiring an additional 118 shares in the last quarter. EFG International AG bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc grew its stake in Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company's stock worth $40,000 after purchasing an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, LM Advisors LLC bought a new stake in Flutter Entertainment in the fourth quarter worth approximately $46,000.

Flutter Entertainment Stock Up 0.4%

NYSE:FLUT opened at $100.53 on Wednesday. The firm's 50 day simple moving average is $102.53 and its 200 day simple moving average is $104.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment has a one year low of $89.71 and a one year high of $292.76. The company has a market cap of $17.45 billion, a PE ratio of -23.38, a P/E/G ratio of 2.54 and a beta of 1.26.

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

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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