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

Flutter Entertainment (NYSE:FLUT) had its target price hoisted by Susquehanna from $273.00 to $286.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

Several other equities research analysts have also commented on the company. Oppenheimer upped their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $295.00 price target on shares of Flutter Entertainment in a report on Wednesday, October 30th. Barclays lifted their target price on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” 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 report on Monday, October 14th. Finally, Moffett Nathanson boosted their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Trading Down 0.6 %

Flutter Entertainment stock opened at $265.44 on Wednesday. Flutter Entertainment has a one year low of $149.00 and a one year high of $269.90. The stock has a fifty day moving average of $233.95 and a 200 day moving average of $210.01.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, sell-side analysts forecast that Flutter Entertainment will post 4.65 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock buyback plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter worth $37,000. CWM LLC bought a new position in Flutter Entertainment during the 2nd quarter valued at about $40,000. US Bancorp DE grew its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Flutter Entertainment in the third quarter worth approximately $82,000. Finally, Hilltop National Bank bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $101,000.

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.