Benchmark Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target decreased by research analysts at Benchmark from $365.00 to $310.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 23.93% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein dropped their price target on shares of Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating on the stock in a research report on Wednesday. JMP Securities dropped their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Citigroup reissued a “buy” rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Bank of America raised their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $336.26.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $250.15 on Wednesday. The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 123.23 and a beta of 1.91. Flutter Entertainment has a twelve month low of $196.88 and a twelve month high of $313.68. The stock has a fifty day simple moving average of $279.92 and a 200 day simple moving average of $266.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The firm’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a share repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the sale, the insider directly owned 4,712 shares of the company’s stock, valued at $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several hedge funds have recently added to or reduced their stakes in FLUT. ORG Partners LLC raised its stake in Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $29,000. SVB Wealth LLC purchased a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $27,000. Signaturefd LLC grew its stake in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Flutter Entertainment by 116.4% in the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after buying an additional 78 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.