Flutter Entertainment (NYSE:FLUT – Get Free Report) had its price target boosted by equities research analysts at JMP Securities from $255.00 to $287.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 27.01% from the stock’s current price.
Other analysts also recently issued research reports about the company. Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective on the stock. Needham & Company LLC initiated coverage on Flutter Entertainment in a research note on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective on the stock. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Craig Hallum boosted their price objective on Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and an average target price of $275.92.
View Our Latest Report on FLUT
Flutter Entertainment Stock Performance
Flutter Entertainment (NYSE:FLUT – Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.
Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of FLUT. Artemis Investment Management LLP purchased a new position in shares of Flutter Entertainment during the first quarter valued at $29,611,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Flutter Entertainment during the first quarter valued at $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Flutter Entertainment during the first quarter valued at $70,371,000. Financial Perspectives Inc purchased a new position in shares of Flutter Entertainment during the first quarter valued at $102,000. Finally, Yousif Capital Management LLC purchased a new position in shares of Flutter Entertainment during the first quarter valued at $649,000.
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.
See Also
- Five stocks we like better than Flutter Entertainment
- What is a Dividend King?
- Goldman Sachs Earnings Reveal Market Moves Investors Can’t Ignore
- Following Congress Stock Trades
- AMD Gains Momentum With AI: Can It Beat Expectations?
- 5 Top Rated Dividend Stocks to Consider
- Lithium Grab: 2 Lithium Stocks That Could Be Takeover Targets
Receive News & Ratings for Flutter Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flutter Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.