Citizens Jmp Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price lowered by research analysts at Citizens Jmp from $129.00 to $116.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp‘s price objective indicates a potential upside of 40.66% from the stock’s previous close.

Several other analysts have also recently issued reports on FLUT. Deutsche Bank Aktiengesellschaft set a $148.00 price objective on shares of Flutter Entertainment in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Flutter Entertainment from $114.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. UBS Group decreased their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. New Street Research set a $110.00 price target on shares of Flutter Entertainment in a research note on Thursday, September 3rd. Finally, Craig Hallum set a $95.00 target price on Flutter Entertainment in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.74.

Flutter Entertainment Trading Down 1.5%

NYSE:FLUT opened at $82.47 on Thursday. The firm has a market cap of $14.31 billion, a P/E ratio of -19.18, a P/E/G ratio of 3.07 and a beta of 1.27. The firm has a 50-day simple moving average of $86.04 and a 200-day simple moving average of $105.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment has a one year low of $72.56 and a one year high of $235.77.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, November 4th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.50). The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Flutter Entertainment will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Jackson sold 1,762 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $172,429.32. Following the completion of the sale, the chief executive officer directly owned 70,452 shares in the company, valued at $6,894,432.72. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the sale, the chief operating officer directly owned 16,864 shares of the company’s stock, valued at approximately $1,650,311.04. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLUT. M&G PLC increased its stake in Flutter Entertainment by 3.2% in the 3rd quarter. M&G PLC now owns 146,500 shares of the company’s stock worth $10,988,000 after purchasing an additional 4,577 shares in the last quarter. AlphaCore Capital LLC bought a new position in Flutter Entertainment during the third quarter worth $269,000. Hohimer Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $397,000. Ethic Inc. grew its holdings in shares of Flutter Entertainment by 21.6% in the 3rd quarter. Ethic Inc. now owns 5,389 shares of the company’s stock worth $402,000 after purchasing an additional 957 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Flutter Entertainment by 50.6% in the third quarter. Parallel Advisors LLC now owns 917 shares of the company’s stock worth $68,000 after purchasing an additional 308 shares in the last quarter.

Flutter Entertainment News Summary

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: U.S. revenue was a bright spot in an otherwise disappointing quarter, offering evidence of continued growth in a key market. Article
• Positive Sentiment: An analysis argued that Flutter could be about 35% undervalued after the Brazil impairment, suggesting potential upside if investors look past the near-term hit. Article
• Positive Sentiment: Susquehanna raised its price target to $101 and retained a positive rating, signaling confidence in longer-term prospects despite the weaker results.
• Negative Sentiment: Q3 revenue of $3.874 billion rose about 2% year over year but missed expectations; Flutter reported a $0.18-per-share loss versus analysts’ expected profit. A roughly $873 million Brazil impairment contributed to a net loss exceeding $1 billion. Article
• Negative Sentiment: Flutter cut its full-year outlook after missing Q3 revenue and EBITDA estimates. The company cited a combination of a tax increase, unfavorable football results and Brazil’s betting ban as headwinds. Article
• Negative Sentiment: The company paused share buybacks to prioritize debt reduction and cost savings, while its increased use of FanDuel promotions to attract customers may weigh on profits. Article

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, and Sisal and SNAI in Italy.