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

Flutter Entertainment (NYSE:FLUT) had its price objective reduced by research analysts at Barclays from $352.00 to $325.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 63.34% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. JMP Securities lowered their price target 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. BTIG Research lowered their price objective on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer cut their target price on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $319.22.

Flutter Entertainment Stock Down 1.0%

Shares of FLUT stock opened at $198.97 on Thursday. Flutter Entertainment has a twelve month low of $193.27 and a twelve month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $253.33 and a 200 day moving average of $268.25. The stock has a market cap of $35.04 billion, a P/E ratio of 98.01 and a beta of 1.84.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.87. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has authorized a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning grew its position in shares of Flutter Entertainment by 41.0% in the 3rd quarter. Creative Planning now owns 1,461 shares of the company’s stock worth $371,000 after acquiring an additional 425 shares in the last quarter. Durable Capital Partners LP grew its position in Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock valued at $315,973,000 after buying an additional 911,507 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in Flutter Entertainment in the third quarter worth approximately $2,805,000. Credit Agricole S A bought a new stake in Flutter Entertainment in the third quarter worth about $2,866,000. Finally, Raymond James Financial Inc. increased its holdings in shares of Flutter Entertainment by 80.1% in the third quarter. Raymond James Financial Inc. now owns 35,436 shares of the company’s stock valued at $9,001,000 after buying an additional 15,762 shares in the last quarter.

Flutter Entertainment Company Profile

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.