Virgin Galactic Holdings, Inc. (SPCE) closed at $19.25 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 1.44%, and the Nasdaq, a tech-heavy index, added 0.66%.
Prior to today's trading, shares of the company had gained 34.58% over the past month. This has outpaced the Aerospace sector's loss of 18.52% and the S&P 500's loss of 1.56% in that time.
SPCE will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2020. In that report, analysts expect SPCE to post earnings of -$0.28 per share. This would mark a year-over-year decline of 133.33%.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.05 per share and revenue of $1.82 million, which would represent changes of +3.67% and +244.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SPCE. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SPCE is holding a Zacks Rank of #4 (Sell) right now.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research