Flutter Entertainment plc, the parent company of 06 Technology and formerly known as Stars Group Inc. and Amaya Inc., has made a regulatory disclosure today regarding its total voting rights. The announcement, intended to comply with the United Kingdom Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, was released through the Regulatory News Service in London.
Flutter Entertainment, with a standard industrial classification of services in computer programming, data processing, etc., operates under the trading symbol FLUT and is listed on the New York Stock Exchange. The company, with its principal executive offices located at 290 Park Avenue South, New York, has a history of name changes, with its former names being Stars Group Inc. and Amaya Inc.
In other recent news, Flutter Entertainment plc has been the focus of several analyst reports. Berenberg has reaffirmed a 'Buy' rating on Flutter Entertainment, emphasizing the company's diversified operations as a buffer against regulatory and taxation risks. Susquehanna, on the other hand, adjusted its price target on Flutter's stock due to anticipated lower valuation multiples in the company's US segment, while maintaining a Positive rating.
Wells Fargo also adjusted its price target on Flutter's shares, increasing it slightly due to the company's EBITDA surpassing both the analyst's and the Street's expectations. BTIG followed suit, adjusting its price target for Flutter Entertainment shares after the company's first-quarter financial results presented a mixed picture, with revenue falling short but EBITDA surpassing expectations.
InvestingPro Insights
Flutter Entertainment plc (FLUT), a leading player in the computer programming and data processing services sector, continues to navigate the financial markets with a mix of challenges and opportunities. According to InvestingPro data, Flutter Entertainment has a market capitalization of $35.07 billion, reflecting its significant presence in the industry. Despite not being profitable over the last twelve months, the company's revenue has grown by 19.29% during the same period, indicating a potential turnaround. This growth is further substantiated by a strong revenue increase of 16.42% in Q1 2024.
InvestingPro Tips suggest that while FLUT operates with a moderate level of debt, its net income is expected to grow this year, which could be a positive sign for investors. Analysts predict the company will be profitable this year, which aligns with the company's strong return over the last five years. However, potential investors should note that short-term obligations exceed liquid assets, which could indicate liquidity concerns. Additionally, FLUT does not pay a dividend, which might be a consideration for income-focused portfolios. For those interested in exploring further insights, InvestingPro offers additional tips on FLUT at https://www.investing.com/pro/FLUT.
The company’s current P/E ratio stands at -26.24, and while it trades at a high EBITDA valuation multiple, the EBITDA growth of 64.21% in the last twelve months is noteworthy. With the next earnings date set for August 13, 2024, investors will be keen to see if the anticipated profitability materializes. For a more comprehensive analysis, including the fair value assessments by analysts and InvestingPro, investors can refer to the detailed metrics available on InvestingPro.
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