Canaccord Genuity Group Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $270.00

Flutter Entertainment (NYSE:FLUT) had its target price reduced by Canaccord Genuity Group from $300.00 to $270.00 in a report published on Tuesday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

FLUT has been the subject of a number of other reports. UBS Group decreased their price objective on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Hsbc Global Res upgraded Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Needham & Company LLC decreased their price target on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BTIG Research lowered their price objective on shares of Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $276.05.

Flutter Entertainment Price Performance

NYSE FLUT opened at $149.41 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 1 year low of $148.10 and a 1 year high of $313.68. The company has a market cap of $26.18 billion, a PE ratio of -114.93 and a beta of 1.88. The stock’s 50-day moving average price is $201.75 and its two-hundred day moving average price is $242.89.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $1.25. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $1.27 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that Flutter Entertainment will post 4.17 EPS for the current year.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB lifted its position in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in Flutter Entertainment in the 3rd quarter worth approximately $27,000. JCIC Asset Management Inc. bought a new position in Flutter Entertainment during the third quarter worth $32,000. Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment during the 3rd quarter worth about $34,000. Finally, ORG Partners LLC increased its stake in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the period.

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.