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

Shares of Flutter Entertainment plc (NYSE:FLUT) have been assigned an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $275.92.

FLUT has been the subject of several analyst reports. Craig Hallum increased their price objective on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research note 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 price objective for the company. Susquehanna increased their price objective on shares of Flutter Entertainment from $230.00 to $273.00 and gave the company a “positive” rating in a research note on Monday, October 7th. JMP Securities increased their price objective on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Finally, Barclays raised their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently modified their holdings of the company. US Bancorp DE increased its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares during the period. Bleakley Financial Group LLC increased its position in shares of Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after buying an additional 136 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after buying an additional 170 shares during the period. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the second quarter valued at about $37,000. Finally, CWM LLC purchased a new position in shares of Flutter Entertainment during the second quarter valued at about $40,000.

Flutter Entertainment Trading Up 0.9 %

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

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, analysts predict that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a stock repurchase program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.