Flutter Entertainment plc (NYSE:FLUT) Receives $264.36 Average Target Price from Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT) have received an average rating of “Buy” from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $275.92.

Several brokerages have recently issued reports on FLUT. Oppenheimer lifted their price target on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Needham & Company LLC initiated 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 for the company. Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday. They set a “buy” rating and a $300.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a research note on Monday. Finally, Susquehanna increased their target price on shares of Flutter Entertainment from $230.00 to $273.00 and gave the stock a “positive” rating in a research report on Monday, October 7th.

Flutter Entertainment Trading Down 1.8 %

FLUT stock opened at $225.96 on Wednesday. The company has a 50 day moving average of $218.99 and a two-hundred day moving average of $202.57. Flutter Entertainment has a 12-month low of $148.00 and a 12-month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced 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 for the quarter, compared to analysts’ expectations of $3.41 billion. Equities research analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at $1,272,000. Nordea Investment Management AB acquired a new position in shares of Flutter Entertainment during the first quarter valued at about $1,656,000. Capital International Ltd. CA bought a new stake in shares of Flutter Entertainment in the first quarter valued at about $2,180,000. Swiss National Bank acquired a new stake in Flutter Entertainment during the first quarter worth about $119,485,000. Finally, Vanguard Group Inc. bought a new position in Flutter Entertainment during the first quarter valued at about $1,578,442,000.

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.