Barclays Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price upped by Barclays from $275.00 to $301.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

FLUT has been the subject of several other research reports. Craig Hallum lifted their target price on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Susquehanna raised their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday. Benchmark reissued a “buy” rating and set a $265.00 target price on shares of Flutter Entertainment in a report on Monday, October 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $295.00 target price on shares of Flutter Entertainment in a report on Wednesday, October 30th. Finally, JMP Securities lifted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Stock Down 0.6 %

NYSE:FLUT opened at $265.44 on Wednesday. The firm’s 50 day moving average is $233.95 and its 200 day moving average is $210.01. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $269.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, equities research analysts anticipate that Flutter Entertainment will post 4.65 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at $436,599,000. Sender Co & Partners Inc. boosted its position in Flutter Entertainment by 43.5% during the third quarter. Sender Co & Partners Inc. now owns 8,521 shares of the company’s stock valued at $2,022,000 after buying an additional 2,582 shares during the period. Vestcor Inc purchased a new position in shares of Flutter Entertainment in the third quarter worth about $815,000. M&T Bank Corp lifted its stake in shares of Flutter Entertainment by 11.3% in the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock valued at $469,000 after acquiring an additional 203 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $9,653,000.

About Flutter Entertainment

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.