Flutter Entertainment (LON:FLTR) Shares Down 8.3% – Here’s Why

Flutter Entertainment plc (LON:FLTR)’s stock price traded down 8.3% during trading on Tuesday . The company traded as low as £192.90 ($259.38) and last traded at £193.40 ($260.05). 133,126 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 189,154 shares. The stock had previously closed at £210.80 ($283.45).

Analysts Set New Price Targets

A number of brokerages recently commented on FLTR. Berenberg Bank reissued a “buy” rating and set a £247 price target on shares of Flutter Entertainment in a research note on Friday, August 15th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Finally, Citigroup raised their target price on shares of Flutter Entertainment from £252 to £275 and gave the company a “buy” rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of £264.33.

Flutter Entertainment Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 73.74. The company has a market capitalization of £34.00 billion, a PE ratio of 9,434.15, a PEG ratio of 1.76 and a beta of 1.24. The firm’s 50-day simple moving average is £216.97 and its 200-day simple moving average is £198.12.

About Flutter Entertainment

Flutter Entertainment is the world’s largest online sports betting and gaming operator with a portfolio of globally recognised brands.