Movement Alert|Flutter Entertainment PLC Falls 5.1% in Regular Trading, Continued Pressure from Rating Downgrade and Sector-Wide Weakness

Market Focus09-28 22:36

On September 28, Flutter Entertainment PLC fell 5.1% in regular trading, trading at $79.03/share with turnover of $23.41 million, marking a fresh 52-week low as selling pressure intensified.

On the news front, the stock continues to face headwinds after Rothschild & Co Redburn downgraded Flutter from Buy to Neutral and slashed its price target from $169 to $119. The downgrade triggered an initial 2.6% decline on September 22, followed by a further 5.3% drop on September 24 as sector-wide weakness amplified losses. The broader Casinos & Gaming sector remains under significant pressure, with DraftKings down 3.11%, MGM Resorts down 0.25%, and Wynn down 0.31% during the same session.

Fundamental concerns also weigh on the stock. Flutter reported Q2 adjusted EPS of $0.49, missing the consensus estimate of $0.60 by over 18%, while lowering its full-year revenue guidance to $17.44–$18.39 billion from $17.66–$18.96 billion previously. Additionally, the company is undergoing a CEO transition, with Dan Taylor set to replace Peter Jackson effective October 1.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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