Flutter Entertainment PLC (NYSE:FLUT) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Flutter Entertainment has a consensus analyst rating of “Moderate Buy” from 29 firms, with an average 12-month price target of about $177.48.
• Recent analyst moves were mixed: Wedbush kept an outperform rating, while others trimmed targets or issued more cautious views, including BNP Paribas Exane’s underperform rating.
• The company recently beat quarterly expectations, posting $1.22 EPS on $4.30 billion in revenue, while shares were trading around $106.41 after a slight decline.

Shares of Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $177.4783.

A number of equities research analysts have recently issued reports on FLUT shares. Wedbush reiterated an "outperform" rating and issued a $138.00 target price on shares of Flutter Entertainment in a research note on Friday. Freedom Capital raised Flutter Entertainment to a "hold" rating in a research report on Monday, June 22nd. BNP Paribas Exane initiated coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an "underperform" rating and a $80.00 price target for the company. Needham & Company LLC lowered their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Flutter Entertainment from $168.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Monday.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the transaction, the chief executive officer owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Philip Bishop acquired 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief operating officer owned 17,605 shares in the company, valued at $1,756,098.75. The trade was a 6.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company's stock.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its stake in Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Zions Bancorporation National Association UT grew its position in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock worth $27,000 after buying an additional 118 shares in the last quarter. EFG International AG bought a new stake in shares of Flutter Entertainment in the fourth quarter worth $36,000. IFP Advisors Inc increased its stake in shares of Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company's stock worth $40,000 after buying an additional 90 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after acquiring an additional 75 shares in the last quarter.

Flutter Entertainment Stock Down 0.1%

Shares of Flutter Entertainment stock opened at $106.41 on Tuesday. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of -49.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $102.91 and a 200 day moving average price of $123.55.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share. Equities research analysts forecast that Flutter Entertainment will post 4.83 earnings per share for the current fiscal year.

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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