Flutter Entertainment (NYSE:FLUT) Issues Quarterly Earnings Results

Flutter Entertainment (NYSE:FLUT) issued its quarterly earnings results on Wednesday. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87, Briefing.com reports. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Flutter Entertainment updated its FY 2025 guidance to EPS.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $233.96 on Thursday. The firm has a market capitalization of $41.20 billion, a PE ratio of 115.25 and a beta of 1.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a 12-month low of $196.88 and a 12-month high of $313.68. The firm has a 50-day moving average price of $257.11 and a 200 day moving average price of $268.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Macquarie boosted their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. BTIG Research set a $321.00 price target on shares of Flutter Entertainment in a research report on Thursday, October 30th. UBS Group restated a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Finally, Truist Financial decreased their target price on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus price target of $329.39.

Flutter Entertainment declared that its board has initiated a stock buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently added to or reduced their stakes in FLUT. Northwestern Mutual Wealth Management Co. increased its stake in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Flutter Entertainment in the second quarter worth $203,000. AXA S.A. acquired a new stake in Flutter Entertainment in the second quarter worth $234,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares in the last quarter.

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.