Susquehanna Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective lowered by equities researchers at Susquehanna from $160.00 to $143.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 39.22% from the stock’s current price.

Several other brokerages have also issued reports on FLUT. Bank of America cut their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. BTIG Research dropped their price objective on Flutter Entertainment from $180.00 to $177.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Finally, Citizens Jmp reduced their target price on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating on the stock in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $223.25.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $102.72 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $18.01 billion, a P/E ratio of -57.06, a P/E/G ratio of 0.69 and a beta of 1.91. The firm has a 50 day simple moving average of $127.02 and a 200 day simple moving average of $192.95. Flutter Entertainment has a fifty-two week low of $98.88 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Friday, February 27th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.94 EPS. Sell-side analysts predict that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the transaction, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at $8,355,133.99. This trade represents a 10.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 17,834 shares of company stock worth $1,900,331. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Flutter Entertainment

A number of large investors have recently made changes to their positions in FLUT. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment during the second quarter worth about $2,231,266,000. Cibc World Markets Corp bought a new stake in shares of Flutter Entertainment in the fourth quarter worth about $1,678,841,000. Capital International Investors increased its holdings in shares of Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Norges Bank acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth about $694,009,000. Finally, State Street Corp lifted its holdings in shares of Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after purchasing an additional 1,685,556 shares in the last quarter.

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.