Analysts Set Flutter Entertainment plc (NYSE:FLUT) Price Target at $275.92

Shares of Flutter Entertainment plc (NYSE:FLUT) have been assigned a consensus rating of “Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. Thirteen research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $275.92.

Several equities research analysts have recently issued reports on FLUT shares. Moffett Nathanson raised their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Craig Hallum increased 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. Benchmark restated a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a research note on Monday, October 14th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $295.00 target price on shares of Flutter Entertainment in a research report on Wednesday, October 30th.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $237.94 on Friday. Flutter Entertainment has a 1 year low of $148.00 and a 1 year high of $252.84. The business has a fifty day moving average price of $228.56 and a two-hundred day moving average price of $207.07.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds have recently bought and sold shares of FLUT. Capital World Investors bought a new stake in Flutter Entertainment during the first quarter worth about $2,880,796,000. Capital Research Global Investors purchased a new stake in Flutter Entertainment in the first quarter worth approximately $2,418,032,000. Vanguard Group Inc. bought a new position in Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Capital International Investors purchased a new position in shares of Flutter Entertainment during the first quarter worth approximately $507,170,000. Finally, Cantillon Capital Management LLC raised its position in Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after purchasing an additional 2,336,347 shares during the period.

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.