Stock Repurchase Program Authorized by Flutter Entertainment (NYSE:FLUT) Board

Flutter Entertainment (NYSE:FLUT) declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th, RTT News reports. The company plans to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FLUT has been the topic of a number of research reports. Canaccord Genuity Group reduced their price objective on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Susquehanna reissued a “positive” rating and issued a $228.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 27th. UBS Group decreased their price target on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Oppenheimer dropped their price objective on shares of Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $109.70 on Thursday. The firm has a market capitalization of $19.23 billion, a PE ratio of -60.94, a PEG ratio of 0.73 and a beta of 2.30. The stock’s fifty day moving average is $156.89 and its 200 day moving average is $213.08. Flutter Entertainment has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the firm earned $2.94 EPS. The company’s revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment Company Profile

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.