What's Going On With Sports Betting And Gambling Company Flutter Entertainment On Friday?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 31 2024
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Source: Benzinga
- Flutter Entertainment CFO Change: Flutter Entertainment Plc announced the immediate departure of CFO Paul Edgecliffe-Johnson, who will be replaced by Rob Coldrake.
- Market Performance: FLUT shares initially traded lower but reversed losses and were higher in the premarket session on Friday.
- Business Focus Shift: The new CFO, Rob Coldrake, will focus on Flutter's American market operations, as the company shifts its primary share listing from London to New York due to growth opportunities in the U.S.
- Challenges Faced: Flutter faced challenges with a revived shareholder lawsuit in New York and a new sports betting tax in Illinois impacting its shares temporarily.
- Financial Performance: Flutter Entertainment reported strong fiscal 2023 revenue growth, with adjusted EBITDA and EPS also showing significant increases.
Analyst Views on HERO
Wall Street analysts forecast HERO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HERO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 30.155
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Current: 30.155
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
