Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Flutter Entertainment's stock price target was raised to $356.00 by Stifel Nicolaus, indicating a potential upside of 27.13% from its current value.
• The stock experienced a trading drop of 8.5%, reaching $280.03, while it holds a market cap of $49.48 billion with a P/E ratio of 96.94.
• Flutter reported **strong quarterly earnings**, with an EPS of $2.95, surpassing estimates, and revenue growth of 16% year-over-year, indicating robust company performance.

Flutter Entertainment (NYSE:FLUT - Free Report) had its price objective boosted by Stifel Nicolaus from $353.00 to $356.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on FLUT. Canaccord Genuity Group began coverage on Flutter Entertainment in a research report on Wednesday, June 25th. They set a "buy" rating and a $330.00 price target on the stock. Jefferies Financial Group began coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target on the stock. Needham & Company LLC upped their price target on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research report on Friday. Benchmark reaffirmed a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Monday, April 21st. Finally, Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $328.62.

Flutter Entertainment Stock Performance

FLUT stock traded down $24.82 during midday trading on Friday, hitting $281.25. The company's stock had a trading volume of 7,318,089 shares, compared to its average volume of 2,040,824. The stock's 50-day moving average price is $283.14 and its 200 day moving average price is $260.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. Flutter Entertainment has a 1 year low of $183.18 and a 1 year high of $313.68. The stock has a market cap of $49.69 billion, a price-to-earnings ratio of 138.55, a PEG ratio of 1.03 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.28% and a net margin of 2.96%. The firm had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. The business's quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, Director John A. Bryant sold 418 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $102,706.78. Following the transaction, the director directly owned 5,956 shares in the company, valued at $1,463,448.76. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy Cruickshank sold 281 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the transaction, the director owned 1,797 shares in the company, valued at $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,455 shares of company stock worth $601,632.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently modified their holdings of FLUT. GPS Wealth Strategies Group LLC grew its position in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after acquiring an additional 110 shares during the last quarter. SVB Wealth LLC bought a new position in Flutter Entertainment during the 1st quarter worth approximately $27,000. ORG Partners LLC grew its position in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new position in Flutter Entertainment during the 2nd quarter worth approximately $29,000. Finally, Parallel Advisors LLC grew its position in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares during the last quarter.

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.