Analysts Set Flutter Entertainment plc (NYSE:FLUT) PT at $275.92

Flutter Entertainment plc (NYSE:FLUT) has received a consensus rating of “Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating 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.

FLUT has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. JMP Securities boosted their price objective on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Bank of America initiated coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective on the stock. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Moffett Nathanson boosted their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $70,371,000. Sequoia Financial Advisors LLC purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $395,000. Bryn Mawr Capital Management LLC purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $471,000. Nordea Investment Management AB purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $1,656,000. Finally, Mediolanum International Funds Ltd purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $2,897,000.

Flutter Entertainment Trading Up 0.9 %

Shares of NYSE FLUT opened at $229.20 on Friday. Flutter Entertainment has a 1 year low of $148.00 and a 1 year high of $252.84. The company’s 50-day moving average is $227.39 and its 200 day moving average is $206.63.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, research analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share 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 buy up to 11.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.