Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Wells Fargo & Company in a report released on Wednesday, Benzinga reports. They presently have a $295.00 price target on the stock. Wells Fargo & Company's price target would suggest a potential upside of 24.54% from the stock's current price.
FLUT has been the subject of several other reports. JMP Securities boosted their price target on Flutter Entertainment from $255.00 to $287.00 and gave the stock a "market outperform" rating in a research report on Monday, October 14th. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. BTIG Research raised their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Benchmark reaffirmed a "buy" rating and set a $265.00 price objective on shares of Flutter Entertainment in a research note on Monday, October 14th. Finally, Needham & Company LLC began coverage on shares of Flutter Entertainment in a research note on Monday, September 23rd. They issued a "buy" rating and a $270.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $275.92.
Get Our Latest Analysis on Flutter Entertainment
Flutter Entertainment Stock Up 4.1 %
Shares of NYSE FLUT traded up $9.26 during trading on Wednesday, hitting $236.88. The company had a trading volume of 3,106,907 shares, compared to its average volume of 1,085,256. The stock has a fifty day simple moving average of $225.76 and a two-hundred day simple moving average of $205.16. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping 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. Equities analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.
Flutter Entertainment announced that its board has initiated a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Flutter Entertainment
Several large investors have recently made changes to their positions in FLUT. Hollencrest Capital Management acquired a new position in Flutter Entertainment during the 1st quarter worth about $28,000. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth about $37,000. CWM LLC purchased a new position in shares of Flutter Entertainment in the second quarter valued at approximately $40,000. US Bancorp DE grew its holdings in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after purchasing an additional 99 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the second quarter valued at approximately $101,000.
About Flutter Entertainment
(
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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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