Analysts Set Flutter Entertainment plc (NYSE:FLUT) PT at $264.36

Flutter Entertainment plc (NYSE:FLUT - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $264.36.

Several equities research analysts recently issued reports on the stock. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a research note on Tuesday, August 27th. Benchmark lifted their target price on Flutter Entertainment from $255.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Moffett Nathanson boosted 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. Needham & Company LLC assumed coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a "buy" rating and a $270.00 price objective for the company. Finally, BTIG Research upped their target price on Flutter Entertainment from $245.00 to $249.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th.

Flutter Entertainment Price Performance

Shares of FLUT stock traded down $0.03 during trading hours on Wednesday, reaching $236.13. The company had a trading volume of 635,881 shares, compared to its average volume of 1,030,922. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $252.84. The stock's fifty day simple moving average is $214.76 and its 200 day simple moving average is $201.70.

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

Flutter Entertainment announced that its board has authorized a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in FLUT. Hollencrest Capital Management bought a new position in Flutter Entertainment during the 1st quarter worth $28,000. Rothschild Investment LLC bought a new stake in Flutter Entertainment in the 2nd quarter valued at about $37,000. CWM LLC acquired a new position in Flutter Entertainment during the 2nd quarter valued at about $40,000. Hilltop National Bank bought a new position in Flutter Entertainment in the 2nd quarter worth about $101,000. Finally, Financial Perspectives Inc acquired a new stake in shares of Flutter Entertainment in the first quarter valued at approximately $102,000.

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.