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Virgin Galactic Holdings, Inc. (SPCE) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 mins read

Virgin Galactic Holdings, Inc. (SPCE) closed the most recent trading day at $16.47, moving -0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 1.72%.

Heading into today, shares of the company had lost 6.52% over the past month, lagging the Aerospace sector's loss of 2.73% and the S&P 500's loss of 3.29% in that time.

SPCE will be looking to display strength as it nears its next earnings release. In that report, analysts expect SPCE to post earnings of -$0.27 per share. This would mark a year-over-year decline of 35%.

SPCE's full-year Zacks Consensus Estimates are calling for earnings of -$1.16 per share and revenue of $1.82 million. These results would represent year-over-year changes of -6.42% and +244.05%, respectively.

It is also important to note the recent changes to analyst estimates for SPCE. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.5% lower within the past month. SPCE is holding a Zacks Rank of #3 (Hold) right now.

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow SPCE in the coming trading sessions, be sure to utilize Zacks.com.


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