Flutter Entertainment (NYSE:FLUT) Price Target Cut to $305.00 by Analysts at Truist Financial

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price dropped by Truist Financial from $335.00 to $305.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 51.29% from the stock's previous close.

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Other analysts have also issued reports about the stock. Canaccord Genuity Group upped their price target on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. Weiss Ratings restated a "hold (c-)" rating on shares of Flutter Entertainment in a research note on Wednesday, October 8th. Benchmark dropped their target price on Flutter Entertainment from $365.00 to $310.00 and set a "buy" rating on the stock in a report on Wednesday, October 15th. Finally, Macquarie upped their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.94.

Check Out Our Latest Report on FLUT

Flutter Entertainment Stock Performance

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NYSE FLUT traded down $32.85 on Thursday, hitting $201.60. 6,857,412 shares of the stock traded hands, compared to its average volume of 2,346,690. The firm has a market capitalization of $35.50 billion, a price-to-earnings ratio of 99.23 and a beta of 1.84. Flutter Entertainment has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The business's fifty day moving average is $257.11 and its two-hundred day moving average is $268.97.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. Flutter Entertainment's revenue for the quarter was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

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Flutter Entertainment declared that its board has authorized a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer owned 69,850 shares of the company's stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares of the company's stock, valued at $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. ORG Partners LLC raised its stake in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after acquiring an additional 75 shares during the period. Barrett & Company Inc. bought a new stake in Flutter Entertainment in the second quarter worth about $29,000. JFS Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment during the third quarter valued at approximately $27,000. SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the first quarter valued at approximately $27,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $32,000.

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.

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