Flutter Entertainment (NYSE:FLUT) Sets New 12-Month Low After Analyst Downgrade

Shares of Flutter Entertainment PLC (NYSE:FLUT) hit a new 52-week low during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $300.00 to $270.00. Canaccord Genuity Group currently has a buy rating on the stock. Flutter Entertainment traded as low as $159.28 and last traded at $157.8040, with a volume of 94496 shares. The stock had previously closed at $162.51.

FLUT has been the subject of a number of other reports. Oppenheimer set a $280.00 price objective on Flutter Entertainment in a research report on Thursday, January 29th. Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Hsbc Global Res raised shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Barclays cut their price objective on shares of Flutter Entertainment from $307.00 to $304.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Truist Financial set a $260.00 price objective on shares of Flutter Entertainment in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $276.05.

Institutional Investors Weigh In On Flutter Entertainment

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Flutter Entertainment by 402.4% in the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after purchasing an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd bought a new stake in shares of Flutter Entertainment in the 2nd quarter valued at $2,231,266,000. Norges Bank acquired a new stake in Flutter Entertainment during the 2nd quarter worth $930,349,000. State Street Corp lifted its holdings in Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after acquiring an additional 1,685,556 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Flutter Entertainment by 57.4% in the second quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after acquiring an additional 1,122,892 shares during the period.

Flutter Entertainment Trading Up 0.4%

The business has a 50 day simple moving average of $202.77 and a 200-day simple moving average of $243.55. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of -118.29 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $1.25. Flutter Entertainment had a positive return on equity of 14.42% and a negative net margin of 0.95%.The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $1.27 EPS. Flutter Entertainment’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.