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In the latest trading session, Virgin Galactic (SPCE) closed at $6.95, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the company had gained 20.1% over the past month, outpacing the Aerospace sector's gain of 0.09% and the S&P 500's loss of 1.89% in that time.
Virgin Galactic will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect Virgin Galactic to post earnings of -$0.38 per share. This would mark year-over-year growth of 2.56%.
SPCE's full-year Zacks Consensus Estimates are calling for earnings of -$1.51 per share and revenue of $1.02 million. These results would represent year-over-year changes of -5.59% and -68.92%, respectively.
It is also important to note the recent changes to analyst estimates for Virgin Galactic. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Virgin Galactic is currently sporting a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.
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Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
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