Flutter Entertainment PLC shares have reached an all-time high, trading at $269.99, marking a significant milestone for the company. This peak reflects a robust performance over the past year, with the stock witnessing an impressive 62.81% increase in value. Investors have shown growing confidence in Flutter Entertainment's market position and future prospects, contributing to the stock's upward trajectory and its standout performance in the sector. The company's strategic initiatives and strong operational results are likely factors that have propelled the stock to these unprecedented levels, as market participants continue to monitor its progress with keen interest.
In other recent news, Flutter Entertainment's third-quarter revenue rose by a significant 27% year over year, reaching $3.25 billion and exceeding expectations. Adjusted earnings per share were reported at $0.43, outperforming the projected loss of $0.35. This surge was largely driven by a 51% increase in U.S. operations revenue. In response to these robust results, the company has revised its full-year 2024 guidance, now expecting a group revenue of $14.25-$14.55 billion and an adjusted EBITDA between $2.44-$2.62 billion.
Furthermore, Flutter Entertainment has initiated a share repurchase program, with the first tranche involving the buyback of up to $350 million worth of its ordinary shares. This move is part of a larger $5 billion program managed by Goldman Sachs & Co LLC.
Analysts from Craig-Hallum and Needham have maintained a Buy rating on Flutter Entertainment, raising the stock's price target to $350 and $300 respectively. This confidence reflects the company's strong performance, particularly in the U.S. market, and the potential for future growth. These recent developments highlight Flutter Entertainment's resilience within the online gambling sector and its strategic initiatives to maintain a competitive edge in the industry.
InvestingPro Insights
Flutter Entertainment's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $47.88 billion, reflecting its significant presence in the gaming industry. InvestingPro data shows that Flutter has experienced substantial growth, with revenue increasing by 19.86% over the last twelve months to $13.57 billion. This growth is even more pronounced in the most recent quarter, with a 26.97% revenue increase.
Two particularly relevant InvestingPro Tips highlight Flutter's recent success. Firstly, the company has shown a "Strong return over the last month," with a 14.32% price increase in the past 30 days. Secondly, Flutter is "Trading near 52-week high," currently at 99.44% of its peak price. These tips corroborate the article's mention of the stock reaching an all-time high and its impressive 62.81% increase over the past year.
Despite these positive indicators, investors should note that Flutter is currently "Not profitable over the last twelve months," according to another InvestingPro Tip. However, analysts predict the company will be profitable this year, suggesting potential for further growth.
For readers interested in a more comprehensive analysis, InvestingPro offers 13 additional tips on Flutter Entertainment, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.