Flutter Entertainment (NYSE:FLUT – Get Free Report) declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 25th, RTT News reports. The company plans to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Flutter Entertainment Stock Down 2.3 %
FLUT opened at $238.33 on Friday. Flutter Entertainment has a 52 week low of $148.00 and a 52 week high of $252.84. The business’s 50 day moving average is $208.64 and its two-hundred day moving average is $200.99.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. Sell-side analysts forecast that Flutter Entertainment will post 4.75 EPS for the current year.
Wall Street Analysts Forecast Growth
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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.
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