Flutter Entertainment stock falls as Rothschild cuts rating and guidance outlook

Published on 09/21/2026 at 23:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Flutter Entertainment stock trades near its 52-week low at USD 89.56 as of September 18, 2026 after multiple cuts to 2026 guidance triggered a downgrade by Rothschild Redburn. Citizens still sees upside, keeping a USD 145.00 target and Market Outperform rating on September 21, 2026.

Rechenzentrum mit Serverreihen, Symbolbild Flutter Entertainment plc IE00BWT6H894 — Fotorealistisches Rechenzentrum symbolisiert Flutter Entertainment plc ISIN IE00BWT6H894 als globalen Online-Wettanbieter mit Servern, Illustration mit AI erstellt.

Flutter Entertainment stock (ISIN IE00BWT6H894) closed at USD 89.56 on the New York Stock Exchange on September 18, 2026, leaving the owner of FanDuel trading near its 52-week low after a series of guidance cuts for 2026 weighed on sentiment. As Investing.com reported on September 21, 2026, Rothschild Redburn cut its rating on Flutter from Buy to Neutral and lowered its price target to USD 119.00 from USD 169.00 after the company reduced its 2026 guidance for the fourth time.

Rating cut highlights guidance risk

According to Investing.com on September 21, 2026, Rothschild Redburn cited four consecutive cuts to Flutter’s 2026 guidance as the main reason for its downgrade, including a 22 percent reduction in the midpoint EBITDA guidance for FanDuel and a resulting 7 percent cut at the group level for 2026. The broker now sees Flutter shares reaching USD 119.00, down from a previous USD 169.00 target, a cut of USD 50.00 that underlines how much expectations have been reset for the coming year.

In the same report, Investing.com Brasil emphasized that Flutter had repeatedly lowered its 2026 projections, with the latest revision accompanying the second-quarter 2026 results when FanDuel’s midpoint EBITDA guidance was trimmed by 22 percent. These cuts feed into investor concerns that the turnaround in the US sports betting business, particularly at FanDuel, will take longer than earlier management targets implied.

Shares hover near 52-week low despite upside to targets

The market reaction has been sharp. As Investing.com noted, Flutter shares were trading at USD 89.56 on September 21, 2026, close to a 52-week low of USD 89.34 and 69 percent below a 52-week high of USD 287.44. That places the current price almost two-thirds below the peak of the last year, illustrating how aggressively the market has marked down the stock as guidance has slid.

Price data from Yahoo Finance show Flutter Entertainment closing at USD 89.56 on September 18, 2026 on the NYSE, down 3.18 percent from the prior close. The same overview indicates a market capitalization of about USD 15.54 billion as of September 18, 2026, and highlights that the stock has fallen 58.35 percent year-to-date relative to the benchmark S&P 500, which gained 11.76 percent over the same period.

Analysts split between caution and opportunity

Despite the downgrade from Rothschild Redburn, other houses continue to see upside. As Investing.com reported on September 21, 2026, Citizens reiterated a Market Outperform rating on Flutter Entertainment and kept its price target at USD 145.00. With the stock at USD 89.56, Citizens’ target implies roughly 62 percent upside from the current level, suggesting that the broker believes the guidance reset and near-term volatility have already been more than priced into the shares.

The same article notes that Stifel has reaffirmed its Buy rating on Flutter, pointing to growth in parlay betting volumes in August as a positive indicator for FanDuel’s underlying economics, even as single-event sports betting volumes have softened. According to Investing.com on September 21, 2026, Needham highlighted that Flutter’s stock had declined 11 percent over the past week, leaving it near the 52-week low, but analysts still expect the group to reach profitability this year.

Recent financial performance and guidance history

Fundamental figures from Yahoo Finance show that Flutter generated revenue of USD 4.33 billion and reported earnings of negative USD 274 million in the second quarter of fiscal year 2026, with a profit margin of negative 6.33 percent. These Q2 FY26 numbers, which represent the most recent quarterly snapshot in the overview, underline the tension between strong top-line growth and continued losses as the company invests heavily in customer acquisition and promotions in regulated betting markets.

Historically, Flutter’s management had laid out ambitious medium-term targets. As Investing.com Brasil recalls, at the 2024 Investor Day Flutter presented goals for 2027 of USD 21 billion in revenue and an EBITDA margin of 25 percent, implying USD 5.2 billion in EBITDA. Those figures, while framed as longer-term aspirations, now serve as a historical reference point rather than current guidance, as management has said during first-quarter 2026 results that these targets have been delayed.

FanDuel turnaround and regulatory headwinds

The downgrade by Rothschild Redburn also reflects concerns that FanDuel’s turnaround is progressing more slowly than investors originally hoped. As CNBC reported on September 21, 2026, Rothschild & Co warned that the path to sustainable profitability at FanDuel is taking longer than anticipated, advising investors to think carefully before buying the stock despite the valuation compression. The firm’s stance is shaped not only by guidance cuts but also by regulatory and tax risks across Flutter’s key markets.

Beyond the United States, Flutter faces potential headwinds from gambling regulation and taxation. According to Investing.com Korea, Fitch Ratings recently revised Flutter’s outlook from stable to negative, pointing to leverage concerns and the risk of higher gaming taxes in the United Kingdom. While this rating move does not change Flutter’s current debt structure, it underscores that an extended period of elevated investment and slower-than-planned EBITDA growth could limit financial flexibility.

Valuation swings and investor perspective

Valuation metrics show how strongly the market has repriced Flutter. Data cited by iGaming Business on September 21, 2026 indicate that Flutter’s share price fell from USD 282.33 on September 18, 2025 to USD 89.56 on September 18, 2026, with the market valuation around USD 15.54 billion. That is a decline of about USD 192.77 per share, showing how much investor expectations for the online gambling sector have shifted in just one year.

From a broader perspective, the conflicting analyst views create a nuanced picture for investors. On one hand, Rothschild Redburn’s downgrade and Fitch’s negative outlook flag real risks: slower-than-planned EBITDA delivery, high leverage and potential tax increases. On the other hand, Citizens’ USD 145.00 target and Stifel’s confidence in parlay betting growth point to a belief that the current price already discounts many of these challenges. For investors, the key questions now center on whether FanDuel can convert strong customer engagement into sustainable profits and whether Flutter can navigate regulatory changes without further eroding margins.

Flutter stock near lows on NYSE

On the NYSE, Flutter Entertainment stock last closed at USD 89.56 on September 18, 2026, with the day’s move of minus 3.18 percent reflecting ongoing pressure after guidance revisions and rating changes. With the shares sitting just above the 52-week low of USD 89.34 and far below the 52-week high of USD 287.44, the stock remains in a technically weak position, even though several analysts still see substantial upside from current levels.