The Flight Centre Travel Group Ltd (ASX: FLT) share price is sliding today.
The travel company's share price is falling 4.31% and is currently trading at $16.86. However, in earlier trade, the Flight Centre share price had fallen 5.21% before recovering slightly.
For perspective, Flight Centre shares leapt nearly 3% yesterday. Furthermore, the S&P/ASX 200 Index (ASX: XJO) is 0.26% higher today.
Let's take a look at what is happening at Flight Centre.
Image source: Getty Images
Broker updates
Flight Centre shares are not the only ASX 200 travel shares dipping today. The Webjet Limited (ASX: WEB) share price is falling 1.67%, while Qantas Airways Limited (ASX: QAN) shares are down 1.96%.
Goldman Sachs has placed a neutral rating on the company's shares with a $20.90 price target. This is nearly 24% more than the current share price. Previously, as my Foolish colleague Aaron reported, Goldman had a $20.40 price target on the company's share price.
However, Credit Suisse has placed an underperform rating on the company's shares with a $14 price target. Morgans has also expressed concern the company's earnings may not go back to pre-COVID levels until FY2025.
Yesterday, Flight Centre shares surged on the back of the company's upgraded guidance for the 2022 financial year.
The travel company reported it is expecting to report an EBITDA loss of $180 million to $190 million for FY2022. This is 11.9% better than the halfway point of the company's previous FY2022 guidance.
Commenting on the results, managing director Graham Turner said:
After an incredibly challenging period, we were pleased to achieve our goal of returning to monthly underlying EBITDA profitability in both the corporate and leisure sectors late in the year.
Flight Centre said the scale of the travel recovery exceeded the company's expectations.
Flight Centre share price snapshot
The Flight Centre share price has surged 17% in the past year, while it has descended 4% in the year to date.
For perspective, the ASX 200 has lost nearly 8% in a year.
Flight Centre has a market capitalisation of about $3.3 billion based on the current share price.
