Flutter Entertainment (NYSE:FLUT) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $300.00 target price on the stock.

A number of other research firms have also commented on FLUT. Benchmark upped their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Needham & Company LLC started coverage on Flutter Entertainment in a research note on Monday, September 23rd. They issued a “buy” rating and a $270.00 target price on the stock. Craig Hallum upped their price target on Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Oppenheimer lifted their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $275.92.

Flutter Entertainment Price Performance

NYSE FLUT opened at $234.65 on Monday. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $252.84. The stock has a 50-day moving average of $220.80 and a 200-day moving average of $202.97.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. As a group, equities research analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current year.

Flutter Entertainment declared that its board has initiated a share repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in Flutter Entertainment in the first quarter worth $28,000. Rothschild Investment LLC bought a new position in Flutter Entertainment in the 2nd quarter worth about $37,000. CWM LLC purchased a new stake in Flutter Entertainment during the 2nd quarter valued at about $40,000. Hilltop National Bank purchased a new stake in Flutter Entertainment during the 2nd quarter valued at about $101,000. Finally, Financial Perspectives Inc bought a new stake in Flutter Entertainment during the 1st quarter valued at about $102,000.

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.