Flutter Entertainment (NYSE:FLUT) Trading 6.7% Higher – Should You Buy?

Flutter Entertainment PLC (NYSE:FLUT)’s share price was up 6.7% during trading on Tuesday . The company traded as high as $111.47 and last traded at $113.1960. Approximately 2,088,055 shares traded hands during trading, a decline of 53% from the average daily volume of 4,424,951 shares. The stock had previously closed at $106.08.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Morgan Stanley decreased their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. UBS Group lowered their price target on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 21st. Finally, Benchmark lowered their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Price Performance

The company has a market capitalization of $19.51 billion, a P/E ratio of -61.84, a price-to-earnings-growth ratio of 0.22 and a beta of 2.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50-day moving average is $171.97 and its 200-day moving average is $221.56.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.94 earnings per share. Analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in Flutter Entertainment during the third quarter valued at about $27,000. Zions Bancorporation National Association UT lifted its position in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment in the third quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment in the third quarter worth about $34,000.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.