Flutter Entertainment (NYSE:FLUT) Given New $270.00 Price Target at Canaccord Genuity Group

Flutter Entertainment (NYSE:FLUT) had its price objective trimmed by Canaccord Genuity Group from $300.00 to $270.00 in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also commented on FLUT. Sanford C. Bernstein dropped their price target on Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. UBS Group dropped their target price on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a report on Friday, November 28th. Hsbc Global Res raised Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Finally, Needham & Company LLC decreased their price target on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.05.

Flutter Entertainment Trading Down 6.0%

FLUT stock opened at $152.73 on Tuesday. The firm has a fifty day moving average price of $203.69 and a 200 day moving average price of $244.18. Flutter Entertainment has a fifty-two week low of $150.76 and a fifty-two week high of $313.68. The firm has a market cap of $26.76 billion, a PE ratio of -117.48 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.39 by $1.25. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business earned $1.27 earnings per share. Flutter Entertainment’s quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in FLUT. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC boosted its position in Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares during the period. OneDigital Investment Advisors LLC boosted its position in Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after buying an additional 49 shares during the period. Versant Capital Management Inc grew its stake in Flutter Entertainment by 5.6% in the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after acquiring an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares during the period.

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.