Flutter Entertainment (NYSE:FLUT) PT Raised to $275.00

Flutter Entertainment (NYSE:FLUT) had its target price raised by research analysts at Craig Hallum from $240.00 to $275.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 15.39% from the company’s previous close.

A number of other equities analysts have also weighed in on FLUT. Barclays increased their target price on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC began coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective for the company. BTIG Research boosted their target price on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Susquehanna increased their target price on Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their price target on Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $260.45.

Flutter Entertainment Stock Down 2.3 %

NYSE:FLUT opened at $238.33 on Thursday. The firm’s 50 day moving average is $208.64 and its 200 day moving average is $200.99. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, equities research analysts anticipate that Flutter Entertainment will post 4.75 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors purchased a new position in Flutter Entertainment in the first quarter worth $2,418,032,000. Vanguard Group Inc. purchased a new position in Flutter Entertainment in the first quarter worth $1,578,442,000. Capital International Investors bought a new position in Flutter Entertainment in the first quarter valued at $507,170,000. Finally, Marshall Wace LLP raised its position in Flutter Entertainment by 339.2% during the second quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock valued at $196,354,000 after purchasing an additional 831,585 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.