Shares of Flutter Entertainment plc (NYSE:FLUT - Get Free Report) traded down 2.6% during trading on Friday . The stock traded as low as $234.34 and last traded at $234.48. 810,684 shares changed hands during trading, a decline of 21% from the average session volume of 1,031,757 shares. The stock had previously closed at $240.64.
Several research firms have issued reports on FLUT. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. Barclays boosted their target price on Flutter Entertainment from $263.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. Oppenheimer increased their price target on Flutter Entertainment from $255.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Susquehanna boosted their price target on Flutter Entertainment from $230.00 to $273.00 and gave the stock a "positive" rating in a research note on Monday. Finally, 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 report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $264.36.
View Our Latest Stock Report on FLUT
The stock has a 50-day moving average price of $216.49 and a 200 day moving average price of $202.21.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Analysts predict that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.
Flutter Entertainment declared that its board has authorized a stock repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $28,000. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the second quarter worth $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth $40,000. Hilltop National Bank purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth $101,000. Finally, Financial Perspectives Inc acquired a new position in shares of Flutter Entertainment during the 1st quarter valued at about $102,000.
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.
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