Flutter Entertainment plc (NYSE:FLUT) Receives Average Recommendation of “Buy” from Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT) have been assigned an average rating of “Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $275.92.

Several equities research analysts have recently weighed in on FLUT shares. Needham & Company LLC started coverage on Flutter Entertainment in a research report on Monday, September 23rd. They set a “buy” rating and a $270.00 target price on the stock. Barclays raised their target price on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. Craig Hallum raised their price target on Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Moffett Nathanson raised their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Flutter Entertainment during the first quarter worth $70,371,000. Sequoia Financial Advisors LLC acquired a new position in Flutter Entertainment during the first quarter worth $395,000. Bryn Mawr Capital Management LLC acquired a new position in Flutter Entertainment during the first quarter worth $471,000. Nordea Investment Management AB acquired a new position in Flutter Entertainment during the first quarter worth $1,656,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Flutter Entertainment in the first quarter worth $2,897,000.

Flutter Entertainment Stock Down 0.7 %

FLUT stock opened at $231.16 on Friday. The business’s 50-day moving average is $226.63 and its two-hundred day moving average is $205.83. Flutter Entertainment has a 1 year low of $148.00 and a 1 year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. On average, equities research analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.