Flight Centre – Earnings Downgrade

Flight Centre Travel Group downgraded FY19 underlying earnings by 15% to $345m due to softer trading conditions in the Australian leisure market. The company also cited higher operating costs across the business.

Based on the downgrade we now have the stock trading 19x FY20 earnings and 3.5% yield.

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Buying interest in FLT is likely to increase near $35 – $36 range.

 

 

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