Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Flutter Entertainment has a consensus analyst rating of “Moderate Buy” from 30 covering firms, with the average 1-year price target at about $187.42.
• The company’s latest earnings beat expectations, reporting $1.22 EPS on $4.30 billion in revenue, both above consensus estimates, while revenue rose 17.4% year over year.
• Flutter also signaled confidence through a $250 million share repurchase program, and several insiders bought shares recently, including the director and COO.

Shares of Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirty research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, fifteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $187.4167.

FLUT has been the subject of several research reports. UBS Group decreased their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Wedbush began coverage on shares of Flutter Entertainment in a research note on Monday, June 15th. They set an "outperform" rating and a $138.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $167.00 price target on shares of Flutter Entertainment in a research report on Friday, May 8th. Barclays decreased their price target on shares of Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, Sanford C. Bernstein lowered their price objective on shares of Flutter Entertainment from $125.00 to $115.00 and set a "market perform" rating for the company in a report on Thursday, May 7th.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $96.43 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. Flutter Entertainment has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The firm has a market cap of $16.78 billion, a P/E ratio of -45.06, a P/E/G ratio of 1.27 and a beta of 1.40. The business's 50 day moving average price is $102.50 and its 200-day moving average price is $136.94.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $1.59 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts anticipate that Flutter Entertainment will post 5 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John A. Bryant purchased 1,950 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the transaction, the director directly owned 9,235 shares of the company's stock, valued at $949,912.10. This trade represents a 26.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James Philip Bishop purchased 1,000 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief operating officer owned 17,605 shares of the company's stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Cibc World Markets Corp purchased a new position in Flutter Entertainment during the fourth quarter valued at $1,678,841,000. Hsbc Holdings PLC lifted its position in Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company's stock valued at $575,185,000 after buying an additional 5,589,099 shares during the period. Capital International Investors lifted its position in Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company's stock valued at $1,728,772,000 after buying an additional 4,782,302 shares during the period. Norges Bank purchased a new position in Flutter Entertainment during the fourth quarter valued at $694,009,000. Finally, Amundi lifted its position in Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company's stock valued at $210,007,000 after buying an additional 1,694,474 shares during the period.

About Flutter Entertainment

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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