Flutter Entertainment (NYSE:FLUT) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $272.00 price objective on the stock.

Several other equities research analysts also recently issued reports on FLUT. Macquarie raised their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Barclays lowered their target price on Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Citizens Jmp lifted their price target on Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a report on Thursday, November 13th. Stifel Nicolaus decreased their price objective on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.67.

Flutter Entertainment Trading Up 1.0%

FLUT stock opened at $193.09 on Tuesday. Flutter Entertainment has a one year low of $190.00 and a one year high of $313.68. The stock has a market cap of $33.84 billion, a price-to-earnings ratio of 95.12 and a beta of 1.84. The company has a fifty day moving average price of $249.41 and a two-hundred day moving average price of $267.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

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 analysts’ consensus estimates of $0.77 by $0.87. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC acquired a new stake in Flutter Entertainment during the first quarter worth about $27,000. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $27,000. ORG Partners LLC lifted its holdings in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares during the period. Barrett & Company Inc. bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $29,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $32,000.

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.